Redwire (NYSE:RDW) Stock Price Up 1% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price was up 1% during trading on Tuesday . The stock traded as high as $11.85 and last traded at $11.4950. 10,760,112 shares changed hands during trading, a decline of 62% from the average session volume of 28,527,344 shares. The stock had previously closed at $11.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Finally, Canaccord Genuity Group raised their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.44.

Redwire Stock Up 1.0%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The stock’s 50 day simple moving average is $11.12 and its 200 day simple moving average is $11.40. The firm has a market cap of $2.87 billion, a P/E ratio of -7.87 and a beta of 3.05.

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

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in Redwire during the 1st quarter worth approximately $28,000. KBC Group NV purchased a new stake in shares of Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. boosted its position in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares in the last quarter. CWM LLC raised its holdings in Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted 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 acquiring an additional 3,668 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.