Redwire (NYSE:RDW) Stock Price Up 6.7% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price was up 6.7% on Monday . The stock traded as high as $11.89 and last traded at $11.6650. 29,093,788 shares were traded during mid-day trading, a decline of 10% from the average session volume of 32,190,873 shares. The stock had previously closed at $10.93.

Analysts Set New Price Targets

RDW has been the subject of several research analyst reports. Canaccord Genuity Group lifted their price target on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.44.

Redwire Trading Up 6.7%

The stock has a market capitalization of $2.79 billion, a PE ratio of -4.35 and a beta of 2.91. The stock’s 50 day simple moving average is $14.23 and its two-hundred day simple moving average is $11.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

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

Insider Transactions at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 13,211,433 shares of company stock worth $147,576,208 over the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Redwire by 125.0% during the first 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the last quarter. Strs Ohio purchased a new stake in shares of Redwire during the 1st quarter valued at $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 valued at $921,000 after buying an additional 21,417 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Redwire by 57.6% in the second 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. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.