Redwire (NYSE:RDW) Stock Price Up 11.3% – Here’s Why

Redwire Corporation (NYSE:RDW)’s stock price was up 11.3% on Monday . The company traded as high as $10.40 and last traded at $10.0910. Approximately 6,582,942 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 27,358,248 shares. The stock had previously closed at $9.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RDW shares. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. KeyCorp began coverage on shares of Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating for the company. Canaccord Genuity Group boosted their target price on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Zacks Research cut Redwire from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Redwire presently has an average rating of “Hold” and an average price target of $13.88.

Redwire Stock Performance

The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.76 and a beta of 2.50. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $9.73 and a 200-day moving average of $8.47.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.19). The business had revenue of $108.79 million during the quarter, compared to analyst estimates of $98.78 million. Redwire had a negative net margin of 67.55% and a negative return on equity of 15.65%. As a group, sell-side analysts anticipate that Redwire Corporation will post -0.85 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 49,985 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total transaction of $500,349.85. Following the sale, the director owned 45,094,000 shares in the company, valued at approximately $451,390,940. This represents a 0.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 40,400,346 shares of company stock valued at $453,127,301. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Redwire

A number of large investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. grew its holdings in shares of Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after buying an additional 3,396 shares in the last quarter. CWM LLC lifted its stake in shares of Redwire by 1,725.0% during 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. Abich Financial Wealth Management LLC acquired a new stake in Redwire during the third quarter worth approximately $41,000. Russell Investments Group Ltd. grew its stake in Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after acquiring an additional 3,672 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Redwire by 440.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after acquiring an additional 5,395 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.