Redwire (NYSE:RDW) Trading 7.1% Higher – Time to Buy?
by Tristan Rich · The Markets DailyRedwire Corporation (NYSE:RDW – Get Free Report)’s stock price was up 7.1% on Tuesday . The company traded as high as $10.18 and last traded at $10.2130. Approximately 5,898,132 shares changed hands during trading, a decline of 76% from the average daily volume of 24,983,396 shares. The stock had previously closed at $9.54.
Analyst Ratings Changes
RDW has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Redwire in a report on Tuesday, December 23rd. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Jefferies Financial Group lowered their target price on Redwire from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Canaccord Genuity Group raised their target price on shares of Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.89.
View Our Latest Stock Analysis on Redwire
Redwire Trading Up 4.0%
The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -4.19 and a beta of 2.50. The firm’s 50-day moving average is $9.96 and its 200 day moving average is $8.49. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08.
Redwire (NYSE:RDW – Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.19). Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%.The business had revenue of $108.79 million during the quarter, compared to the consensus estimate of $98.78 million. On average, equities analysts predict that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Ae Red Holdings, Llc sold 49,985 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total transaction of $500,349.85. Following the completion of the transaction, the director directly owned 45,094,000 shares in the company, valued at $451,390,940. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 40,400,346 shares of company stock worth $453,127,301. Insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in RDW. Sunbelt Securities Inc. boosted its holdings in Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares in the last quarter. CWM LLC lifted its stake in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after buying an additional 3,864 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Redwire during the third quarter valued at about $41,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Redwire by 308.6% in the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.
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.