Redwire (NYSE:RDW) Trading Up 6.7% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price was up 6.7% during trading on Monday . The stock traded as high as $11.89 and last traded at $11.6650. 29,093,788 shares traded hands during trading, a decline of 10% from the average session volume of 32,190,873 shares. The stock had previously closed at $10.93.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RDW. Jefferies Financial Group raised Redwire to a “hold” rating in a research note on Wednesday, June 10th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Canaccord Genuity Group upped their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Price Performance

The stock has a fifty day moving average of $14.28 and a two-hundred day moving average of $11.11. 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 has a market capitalization of $2.86 billion, a price-to-earnings ratio of -4.50 and a beta of 2.92.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $105.94 million. During the same quarter in the previous year, the company posted ($0.09) EPS. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, equities research analysts forecast 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 1,070,565 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 13,211,433 shares of company stock worth $147,576,208. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC acquired a new position in Redwire during the 1st quarter worth $28,000. KBC Group NV bought a new stake in shares of Redwire during the first quarter worth $29,000. Sunbelt Securities Inc. raised its position in shares of Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the last quarter. CWM LLC lifted its stake in shares of Redwire by 1,725.0% during 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 during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in 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 during the last quarter. 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.