Redwire (NYSE:RDW) Trading 9.2% Higher After Analyst Upgrade
by Doug Wharley · The Cerbat GemShares of Redwire Corporation (NYSE:RDW – Get Free Report) rose 9.2% during trading on Thursday after Jefferies Financial Group upgraded the stock to a hold rating. The company traded as high as $16.50 and last traded at $16.2360. Approximately 11,249,793 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 31,138,973 shares. The stock had previously closed at $14.87.
A number of other research firms have also issued reports on RDW. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Canaccord Genuity Group upped their price target on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.
Check Out Our Latest Analysis on Redwire
Insider Activity at Redwire
In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the completion of the sale, the director directly owned 21,494,349 shares of the company’s stock, valued at approximately $227,195,268.93. This represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 23,327,795 shares of company stock worth $228,806,188. 0.79% of the stock is currently owned by insiders.
Trending Headlines about Redwire
Here are the key news stories impacting Redwire this week:
- Positive Sentiment: Redwire continues to attract attention from space-sector investors, helped by the broader hype around SpaceX’s upcoming IPO and renewed interest in “picks and shovels” space infrastructure names. The Biggest Opportunity From SpaceX’s IPO May Surprise You
- Positive Sentiment: Unusual call option activity suggests some traders are betting that Redwire’s growth story and contract pipeline could continue to improve. Unusual Options Trading on Redwire
- Neutral Sentiment: Jefferies Financial Group upgraded Redwire to hold, which may help support sentiment but does not signal a strong near-term bullish catalyst. Jefferies Upgrades Redwire to Hold
- Negative Sentiment: Redwire established an expanded ATM equity program, increasing the risk of dilution and pressuring the stock as investors weigh the cost of funding growth with additional share issuance. Redwire Establishes Expanded At-The-Market Equity Program
- Negative Sentiment: Market commentary focused on the company’s US$500 million ATM program says the move raises dilution questions around Redwire’s growth story, adding to bearish pressure on RDW. Redwire’s US$500 Million ATM Raises Dilution Questions For Growth Story
- Negative Sentiment: Additional coverage said Redwire’s stock was sliding because of the new $500 million equity program, reinforcing investor concern that dilution could outweigh the company’s long-term growth narrative. The $500 Million Reason Redwire Stock Is Down Today
Institutional Investors Weigh In On Redwire
A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new position in Redwire during the 1st quarter valued at $28,000. KBC Group NV bought a new stake in shares of Redwire in the 1st quarter worth $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares during the period. CWM LLC lifted its holdings in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after buying an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.
Redwire Trading Up 6.7%
The business has a fifty day moving average of $13.29 and a 200-day moving average of $10.38. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -5.94 and a beta of 2.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.
Redwire (NYSE:RDW – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same period in the previous year, the company posted ($0.09) earnings per share. Redwire’s revenue was up 57.9% compared to the same quarter last year. On average, equities analysts anticipate that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.
Redwire Company Profile
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.