Redwire (NYSE:RDW) Trading 1.3% Higher – Still a Buy?

Shares of Redwire Corporation (NYSE:RDW) rose 1.3% during trading on Thursday . The stock traded as high as $11.35 and last traded at $10.8430. Approximately 13,890,991 shares changed hands during trading, a decline of 49% from the average daily volume of 27,392,010 shares. The stock had previously closed at $10.70.

Analyst Ratings Changes

A number of analysts recently weighed in on RDW shares. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a report on Sunday, August 9th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Bank of America upped their target price on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Redwire has an average rating of “Hold” and an average price target of $14.69.

Redwire Stock Up 1.3%

The firm has a market capitalization of $2.71 billion, a P/E ratio of -7.43 and a beta of 3.08. The firm’s 50 day moving average is $10.70 and its two-hundred day moving average is $11.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last announced its quarterly 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 firm 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%. Research analysts predict that Redwire Corporation will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Redwire during the 2nd quarter worth about $196,514,000. Van ECK Associates Corp raised its holdings in Redwire by 173.0% in the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after acquiring an additional 4,341,424 shares during the period. Bank of America Corp DE lifted its position in 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 worth $57,970,000 after acquiring an additional 6,730,414 shares during the last quarter. State Street Corp boosted its holdings in shares of Redwire by 61.1% during the fourth 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. Finally, Vanguard Group Inc. grew its position in shares of Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after purchasing an additional 91,045 shares during the last quarter. 8.10% of the stock is owned by 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.