Redwire (NYSE:RDW) Trading Up 9.5% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s stock price shot up 9.5% during mid-day trading on Tuesday . The stock traded as high as $9.54 and last traded at $9.4150. Approximately 19,500,202 shares traded hands during trading, a decline of 36% from the average daily volume of 30,651,469 shares. The stock had previously closed at $8.60.

Analysts Set New Price Targets

RDW has been the topic of a number of analyst reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Friday. Canaccord Genuity Group boosted their price objective on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.44.

Redwire Price 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 has a market cap of $2.25 billion, a PE ratio of -3.51 and a beta of 3.01. The business has a 50-day moving average price of $14.33 and a 200 day moving average price of $11.37.

Redwire (NYSE:RDW) last announced its quarterly earnings data 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). The firm had revenue of $96.97 million during 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 company’s revenue was up 57.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, research analysts forecast that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently modified their holdings of RDW. Bank of America Corp DE boosted its position in shares of Redwire by 7,512.5% in the first 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 during the period. State Street Corp increased its holdings in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after acquiring an additional 1,786,038 shares during the period. Vanguard Group Inc. lifted its stake in Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after purchasing an additional 91,045 shares in the last quarter. UBS Group AG lifted its stake in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Redwire by 46.9% in the 4th quarter. Geode Capital Management LLC now owns 1,764,643 shares of the company’s stock valued at $13,413,000 after purchasing an additional 563,259 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.