Redwire (NYSE:RDW) Shares Up 2.9% – Should You Buy?

Shares of Redwire Corporation (NYSE:RDW) were up 2.9% on Friday. The company traded as high as $11.36 and last traded at $10.8760. 15,257,334 shares changed hands during trading, a decline of 42% from the average session volume of 26,229,771 shares. The stock had previously closed at $10.57.

Analyst Upgrades and Downgrades

RDW has been the topic of several research analyst reports. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Guggenheim started coverage on Redwire in a research report on Monday, September 14th. They set a “neutral” rating on the stock. Cantor Fitzgerald lifted their price target on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Bank of America boosted their price target on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Redwire currently has a consensus rating of “Hold” and a consensus target price of $14.69.

Redwire Trading Up 2.9%

The stock has a market capitalization of $2.72 billion, a PE ratio of -7.45 and a beta of 3.12. The company’s 50 day moving average price is $11.09 and its two-hundred day moving average price is $11.79. 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 earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The company had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. As a group, analysts expect that Redwire Corporation will post -0.7 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the completion of the transaction, the director directly owned 147,984 shares in the company, valued at $1,678,138.56. This trade represents a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC purchased a new position in Redwire during the 1st quarter valued at about $28,000. KBC Group NV acquired a new position in Redwire in the 1st quarter valued at about $29,000. IFP Advisors Inc increased its stake in Redwire by 3,662.5% during the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after purchasing an additional 3,516 shares during the period. Rockefeller Capital Management L.P. increased its stake in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Redwire during the second quarter worth about $57,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.