Redwire (NYSE:RDW) Stock Price Up 9.8% – Still a Buy?

by · The Cerbat Gem

Redwire Corporation (NYSE:RDWGet Free Report)’s share price rose 9.8% on Monday . The stock traded as high as $12.87 and last traded at $12.1520. Approximately 46,717,918 shares were traded during trading, an increase of 89% from the average daily volume of 24,781,432 shares. The stock had previously closed at $11.07.

Analyst Ratings Changes

RDW has been the subject of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. Canaccord Genuity Group raised their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group restated a “buy” rating and set a $13.00 target price on shares of Redwire in a research note on Sunday. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Redwire has an average rating of “Moderate Buy” and an average target price of $14.22.

Read Our Latest Report on RDW

Redwire Price Performance

The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -4.53 and a beta of 2.41. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $9.44 and a two-hundred day moving average price of $8.63.

Redwire (NYSE:RDWGet Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s revenue was up 57.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. As a group, research analysts forecast that Redwire Corporation will post -0.49 EPS for the current year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares in the company, valued at $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 23,377,780 shares of company stock worth $229,306,538. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently made changes to their positions in the business. AE Industrial Partners LP grew its stake in shares of Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after purchasing an additional 6,101,959 shares during the last quarter. State Street Corp grew its stake in shares of Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after purchasing an additional 91,045 shares during the last quarter. UBS Group AG grew its stake in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Redwire by 46.9% in the 4th quarter. Geode Capital Management LLC now owns 1,764,643 shares of the company’s stock worth $13,413,000 after purchasing an additional 563,259 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

(Get Free Report)

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.

Recommended Stories