Redwire (NYSE:RDW) Trading Up 7.1% – Should You Buy?

Shares of Redwire Corporation (NYSE:RDW) rose 7.1% during trading on Tuesday . The stock traded as high as $10.18 and last traded at $10.2130. Approximately 5,898,132 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 24,983,396 shares. The stock had previously closed at $9.54.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Redwire in a report on Tuesday, December 23rd. KeyCorp started coverage on Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating for the company. Canaccord Genuity Group raised their price objective on Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Truist Financial upgraded Redwire from a “hold” rating to a “buy” rating and lifted their target price for the company from $13.00 to $15.00 in a research note on Monday, March 9th. Finally, Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.89.

Redwire Price Performance

The firm has a market cap of $1.58 billion, a PE ratio of -4.04 and a beta of 2.50. The stock has a 50 day simple moving average of $9.95 and a two-hundred day simple moving average of $8.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.62.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate 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 company had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million. Sell-side analysts expect that Redwire Corporation will post -0.85 earnings per share for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the sale, the director directly owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. This represents a 17.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 40,509,027 shares of company stock valued at $454,220,052. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AE Industrial Partners LP increased its stake in shares of Redwire by 139.3% in the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after purchasing an additional 49,765,262 shares in the last quarter. Andar Capital Management HK Ltd increased its position in shares of Redwire by 76.5% in the third quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock valued at $2,697,000 after buying an additional 130,000 shares in the last quarter. Register Financial Advisors LLC raised its stake in shares of Redwire by 46.8% during the 3rd quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock worth $2,948,000 after buying an additional 104,597 shares during the period. Voya Investment Management LLC purchased a new position in shares of Redwire during the 3rd quarter valued at approximately $20,372,000. Finally, Geode Capital Management LLC grew its stake in Redwire by 77.1% in the 2nd quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock valued at $15,248,000 after acquiring an additional 407,131 shares during the period. Hedge funds and other institutional investors 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.