Redwire (NYSE:RDW) Trading 7% Higher on Analyst Upgrade

Redwire Corporation (NYSE:RDW) traded up 7% during mid-day trading on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $15.00 price target on the stock, up from their previous price target of $13.00. Redwire traded as high as $9.37 and last traded at $9.15. 7,429,943 shares changed hands during trading, a decline of 72% from the average session volume of 26,242,984 shares. The stock had previously closed at $8.55.

Several other equities analysts have also issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Roth Mkm reiterated a “buy” rating and set a $20.00 target price on shares of Redwire in a report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Redwire in a report on Tuesday, December 23rd. Finally, Canaccord Genuity Group raised their price target on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.89.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 49,985 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $10.01, for a total value of $500,349.85. Following the sale, the director directly owned 45,094,000 shares of the company’s stock, valued at approximately $451,390,940. The trade was a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 40,400,346 shares of company stock worth $453,127,301 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Redwire by 3,976.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 269,873 shares of the company’s stock worth $2,051,000 after buying an additional 263,253 shares during the period. Corecam Pte. Ltd. bought a new stake in Redwire in the 4th quarter valued at approximately $288,000. Alpine Global Management LLC bought a new stake in Redwire in the 4th quarter valued at approximately $93,000. Sunbelt Securities Inc. boosted its position in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Redwire by 101.7% during the 4th quarter. Invesco Ltd. now owns 1,295,461 shares of the company’s stock worth $9,846,000 after acquiring an additional 653,043 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

Redwire Stock Up 6.0%

The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.50 billion, a P/E ratio of -3.82 and a beta of 2.50. The firm’s 50 day moving average price is $9.81 and its two-hundred day moving average price is $8.47.

Redwire (NYSE:RDW) last announced 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). 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. Equities research analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

About Redwire

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.