Redwire (NYSE:RDW) Trading Up 1.7% – Still a Buy?

Shares of Redwire Corporation (NYSE:RDW) were up 1.7% on Monday . The stock traded as high as $9.23 and last traded at $8.8350. Approximately 12,777,613 shares were traded during trading, a decline of 58% from the average session volume of 30,158,895 shares. The stock had previously closed at $8.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RDW shares. Canaccord Genuity Group boosted their price target 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. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Up 1.7%

The business has a 50-day moving average price of $14.03 and a 200-day moving average price of $11.38. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -3.30 and a beta of 3.01. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, equities analysts anticipate that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This represents 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. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of large investors have recently made changes to their positions in the company. Parallel Advisors LLC acquired a new stake in shares of Redwire during the first quarter valued at approximately $28,000. KBC Group NV acquired a new position in Redwire in the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake in Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares during the period. Rockefeller Capital Management L.P. grew its position in Redwire by 1,054.0% during the 4th 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 in the last quarter. Finally, CWM LLC grew its position in Redwire by 1,725.0% during the 4th 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. Institutional investors and hedge funds 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.