Redwire (NYSE:RDW) Trading 6.1% Higher – What’s Next?

Redwire Corporation (NYSE:RDW) traded up 6.1% during mid-day trading on Wednesday . The company traded as high as $14.98 and last traded at $14.32. 35,492,894 shares changed hands during trading, an increase of 10% from the average session volume of 32,284,563 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Canaccord Genuity Group upped their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.44.

Redwire Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average is $13.76 and its two-hundred day moving average is $10.66. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -5.34 and a beta of 2.92.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, sell-side analysts expect that Redwire Corporation will post -0.76 earnings per share for the current year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares in the company, valued at $330,637,235.55. This represents a 17.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 23,211,433 shares of company stock worth $239,826,208. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RDW. AQR Capital Management LLC raised its position in shares of Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after purchasing an additional 28,576 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares during the last quarter. Strs Ohio acquired a new position in shares of Redwire during the 1st quarter worth about $69,000. Rhumbline Advisers raised its position in shares of Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after purchasing an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Redwire by 57.6% in the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after acquiring an additional 7,750 shares during the last quarter. Institutional investors and hedge funds 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.