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

Redwire Corporation (NYSE:RDW) shares gapped up prior to trading on Friday . The stock had previously closed at $10.36, but opened at $10.82. Redwire shares last traded at $10.70, with a volume of 3,714,327 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Redwire from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. B. Riley lowered their price target on shares of Redwire from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 8th. HC Wainwright reiterated a “buy” rating and set a $22.00 price target (down from $26.00) on shares of Redwire in a report on Friday, August 8th. Truist Financial set a $16.00 price target on shares of Redwire and gave the stock a “hold” rating in a report on Thursday, June 26th. Finally, Canaccord Genuity Group cut their price target on shares of Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a report on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.07.

Redwire Stock Up 3.4%

The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.54 billion, a P/E ratio of -3.30 and a beta of 2.47. The company’s fifty day simple moving average is $9.77 and its 200 day simple moving average is $12.18.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%.The company had revenue of $61.76 million during the quarter, compared to the consensus estimate of $80.48 million. Research analysts expect that Redwire Corporation will post -0.85 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. AE Industrial Partners LP grew its position in shares of Redwire by 139.3% in the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after buying an additional 49,765,262 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of Redwire in the 2nd quarter worth about $36,206,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Redwire in the 2nd quarter worth about $32,652,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Redwire in the 2nd quarter worth about $7,062,000. Finally, Geode Capital Management LLC grew its position in shares of Redwire by 77.1% in the 2nd quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after buying an additional 407,131 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.