Redwire (NYSE:RDW) Trading 13.7% Higher – Here’s Why

Redwire Corporation (NYSE:RDW) shot up 13.7% during trading on Thursday . The stock traded as high as $21.05 and last traded at $21.1740. 13,431,999 shares were traded during mid-day trading, a decline of 55% from the average session volume of 30,133,127 shares. The stock had previously closed at $18.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RDW shares. Truist Financial upgraded Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group lowered shares of Redwire from a “buy” rating to a “hold” rating and boosted their target price for the company from $13.00 to $24.00 in a research note on Monday. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Finally, Canaccord Genuity Group boosted their target price on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.44.

Redwire Stock Performance

The stock has a fifty day moving average price of $12.36 and a two-hundred day moving average price of $9.94. The company has a market cap of $4.16 billion, a P/E ratio of -8.10 and a beta of 2.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The business had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s quarterly revenue was up 57.9% on a year-over-year basis. During the same period last year, the firm posted ($0.09) EPS. On average, equities analysts forecast that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the completion of the transaction, the director directly owned 21,494,349 shares in the company, valued at $227,195,268.93. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 23,327,795 shares of company stock worth $228,806,188. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC bought a new position in shares of Redwire in the first quarter valued at approximately $28,000. KBC Group NV bought a new position in shares of Redwire in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after acquiring an additional 3,668 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.