Redwire Sees Unusually High Options Volume (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the target of unusually large options trading activity on Wednesday. Investors acquired 79,624 call options on the stock. This represents an increase of 74% compared to the typical daily volume of 45,631 call options.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the sale, the director owned 36,135,217 shares of the company’s stock, valued at approximately $330,637,235.55. This represents a 17.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 23,327,795 shares of company stock worth $228,806,188. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Andar Capital Management HK Ltd increased its position in shares of Redwire by 76.5% during the third 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. JPMorgan Chase & Co. increased its position in shares of Redwire by 2,556.0% during the third 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 bought a new stake in shares of Redwire during the fourth quarter valued at approximately $1,330,000. AE Industrial Partners LP increased its position in shares of Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after purchasing an additional 6,101,959 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Redwire during the fourth quarter valued at approximately $7,676,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Redwire Trading Down 15.0%

Shares of NYSE RDW opened at $15.79 on Wednesday. Redwire has a one year low of $4.87 and a one year high of $26.64. The firm has a market capitalization of $3.03 billion, a PE ratio of -5.89 and a beta of 2.92. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $13.14 and a two-hundred day moving average price of $10.31.

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 the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, analysts predict that Redwire will post -0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RDW. Canaccord Genuity Group increased their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Jefferies Financial Group cut Redwire from a “buy” rating to a “hold” rating and increased their target price for the company from $13.00 to $24.00 in a research note on Monday, June 1st. Finally, Weiss Ratings reiterated 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, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

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.