Redwire (NYSE:RDW) Reaches New 52-Week High – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.10 and last traded at $22.08, with a volume of 105815167 shares. The stock had previously closed at $17.49.

Analyst Upgrades and Downgrades

RDW has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $13.00 price target on shares of Redwire in a research note on Sunday, May 10th. Canaccord Genuity Group lifted their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Finally, Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.22.

Redwire Stock Performance

The company has a market cap of $4.24 billion, a P/E ratio of -8.24 and a beta of 2.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The business has a 50 day moving average price of $10.83 and a two-hundred day moving average price of $9.26.

Redwire (NYSE:RDW) last announced its quarterly earnings results 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 business had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, sell-side analysts anticipate that Redwire Corporation will post -0.7 earnings per share for the current year.

Insider Transactions 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 owned 36,135,217 shares in the company, valued at $330,637,235.55. The trade was a 17.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 23,327,795 shares of company stock worth $228,806,188. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RDW. AQR Capital Management LLC increased its holdings in Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after purchasing an additional 28,576 shares during the period. Goldman Sachs Group Inc. increased its holdings in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after purchasing an additional 276,814 shares during the period. Strs Ohio purchased a new position in Redwire during the 1st quarter valued at about $69,000. Rhumbline Advisers increased its holdings in Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after purchasing an additional 21,417 shares during the period. Finally, Invesco Ltd. increased its holdings in Redwire by 57.6% during the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after purchasing an additional 7,750 shares during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.