Redwire (NYSE:RDW) Sees Large Volume Increase – Here’s Why

Redwire Corporation (NYSE:RDW) shares saw unusually-high trading volume on Friday . Approximately 18,257,526 shares traded hands during mid-day trading, a decline of 42% from the previous session’s volume of 31,597,086 shares.The stock last traded at $15.7810 and had previously closed at $17.09.

Analyst Upgrades and Downgrades

RDW has been the subject of several recent research reports. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research note on Wednesday. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group raised their price objective on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Performance

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 stock’s 50 day moving average price is $13.46 and its two-hundred day moving average price is $10.47. The firm has a market capitalization of $2.95 billion, a PE ratio of -5.75 and a beta of 2.92.

Redwire (NYSE:RDW) last issued its quarterly earnings data 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). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same period last year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, equities analysts expect that Redwire Corporation will post -0.76 earnings per share for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 977,887 shares of Redwire 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 sale, the director directly owned 21,494,349 shares of the company’s stock, valued at approximately $227,195,268.93. The trade was a 4.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 23,316,180 shares of company stock valued at $228,689,922. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently made changes to their positions in RDW. Bank of America Corp DE lifted its holdings in shares of Redwire by 7,512.5% during the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. AE Industrial Partners LP lifted its holdings in shares of Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares in the last quarter. State Street Corp lifted its holdings in shares of Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares in the last quarter. UBS Group AG lifted its holdings in shares of Redwire by 140.8% during the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Redwire during the 4th quarter valued at $7,676,000. Institutional investors and hedge funds 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.