Traders Buy High Volume of Redwire Call Options (NYSE:RDW)
by Michael Walen · The Markets DailyRedwire Corporation (NYSE:RDW – Get Free Report) was the target of unusually large options trading activity on Thursday. Stock investors acquired 25,002 call options on the company. This represents an increase of approximately 26% compared to the typical volume of 19,799 call options.
Insider Activity
In related news, CEO Peter Anthony Cannito, Jr. purchased 32,155 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $6.21 per share, with a total value of $199,682.55. Following the acquisition, the chief executive officer owned 526,728 shares in the company, valued at $3,270,980.88. The trade was a 6.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Chris Edmunds purchased 5,500 shares of Redwire stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $5.46 per share, with a total value of $30,030.00. Following the transaction, the chief accounting officer owned 107,441 shares in the company, valued at approximately $586,627.86. The trade was a 5.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 56,065 shares of company stock valued at $330,047 and sold 23,953,093 shares valued at $252,001,857. 2.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. AE Industrial Partners LP raised its stake in shares of Redwire by 7.1% during the third 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. Vanguard Group Inc. raised its position in Redwire by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after buying an additional 91,045 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Redwire in the 3rd quarter worth $20,372,000. Hood River Capital Management LLC purchased a new stake in shares of Redwire in the second quarter valued at about $36,206,000. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Redwire during the second quarter worth about $32,652,000. 8.10% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on RDW. Cantor Fitzgerald cut their target price on Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Industrial Alliance Securities set a $9.00 price objective on shares of Redwire in a research report on Thursday, November 6th. Roth Mkm reiterated a “buy” rating and issued a $15.00 target price on shares of Redwire in a report on Thursday, November 6th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Redwire presently has an average rating of “Hold” and a consensus target price of $13.13.
Read Our Latest Stock Analysis on RDW
Redwire Stock Up 15.5%
Shares of NYSE RDW traded up $1.58 during mid-day trading on Thursday, hitting $11.78. The company had a trading volume of 20,598,042 shares, compared to its average volume of 26,937,051. The company has a market capitalization of $1.94 billion, a PE ratio of -3.72 and a beta of 2.44. The business’s 50-day simple moving average is $7.64 and its 200 day simple moving average is $9.43. Redwire has a 1-year low of $4.87 and a 1-year high of $26.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05.
Redwire (NYSE:RDW – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.15). The firm had revenue of $103.43 million for the quarter, compared to analyst estimates of $132.05 million. Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%. On average, analysts predict that Redwire will post -0.85 earnings per share for the current 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.