Redwire (NYSE:RDW) Shares Up 1.9% – Should You Buy?

Redwire Corporation (NYSE:RDW) rose 1.9% during mid-day trading on Friday . The company traded as high as $12.33 and last traded at $11.99. Approximately 11,408,950 shares were traded during trading, a decline of 60% from the average session volume of 28,738,629 shares. The stock had previously closed at $11.77.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RDW shares. Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group upped their target price on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. Cantor Fitzgerald boosted their price target on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.44.

Redwire Stock Performance

The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.00 billion, a PE ratio of -8.21 and a beta of 3.05. The business’s 50-day moving average price is $11.19 and its 200-day moving average price is $11.39.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. As a group, equities research analysts expect that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was 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 of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Redwire in the second quarter worth $196,514,000. Bank of America Corp DE grew its holdings in shares of Redwire by 7,512.5% during 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 buying an additional 6,730,414 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Redwire by 173.0% during the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after buying an additional 4,341,424 shares during the last quarter. State Street Corp increased its position in shares of Redwire by 61.1% in 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 during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Redwire in the 2nd quarter worth $16,583,000. 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.