Redwire (NYSE:RDW) Sees Strong Trading Volume – Here’s Why

Redwire Corporation (NYSE:RDW) shares saw strong trading volume on Friday . 17,212,022 shares were traded during trading, a decline of 32% from the previous session’s volume of 25,219,578 shares.The stock last traded at $13.8240 and had previously closed at $13.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Roth Mkm restated a “buy” rating and set a $20.00 price target on shares of Redwire in a research note on Wednesday, January 28th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and set a $13.00 price target on shares of Redwire in a research note on Sunday. Canaccord Genuity Group upped their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Trading Down 2.7%

The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -5.09 and a beta of 2.41. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $9.73 and a 200-day moving average of $8.78.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same period in the previous year, the business posted ($0.09) EPS. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, research analysts forecast that Redwire Corporation will post -0.61 earnings per share for the current year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the transaction, the director directly owned 36,135,217 shares in the company, valued at $330,637,235.55. The trade was a 17.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 23,327,795 shares of company stock worth $228,806,188. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Large investors have recently modified their holdings of the stock. Andar Capital Management HK Ltd grew its stake in shares of Redwire by 76.5% in the 3rd quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock valued at $2,697,000 after purchasing an additional 130,000 shares during the period. Register Financial Advisors LLC grew its stake in shares of Redwire by 46.8% in the 3rd quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock valued at $2,948,000 after purchasing an additional 104,597 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Redwire by 2,556.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after purchasing an additional 555,536 shares during the period. Capelight Capital Asset Management LP acquired a new position in shares of Redwire in the 4th quarter worth approximately $1,330,000. Finally, AE Industrial Partners LP boosted its holdings in shares of Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after acquiring an additional 6,101,959 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.