Redwire (NYSE:RDW) Shares Up 11.9% – Here’s Why

Shares of Redwire Corporation (NYSE:RDW) were up 11.9% on Monday . The company traded as high as $9.74 and last traded at $9.6450. 18,878,789 shares were traded during trading, a decline of 36% from the average daily volume of 29,709,990 shares. The stock had previously closed at $8.62.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Canaccord Genuity Group boosted their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Trading Up 11.9%

The stock’s fifty day simple moving average is $13.37 and its 200-day simple moving average is $11.31. The firm has a market cap of $2.30 billion, a PE ratio of -3.60 and a beta of 3.01. 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 posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company’s quarterly revenue was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, sell-side analysts forecast that Redwire Corporation will post -0.81 earnings per share for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire 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 sale, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RDW. Tema ETFs LLC raised its stake in shares of Redwire by 51,491.5% in the second quarter. Tema ETFs LLC now owns 621,162 shares of the company’s stock worth $7,597,000 after purchasing an additional 619,958 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Redwire by 82.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 63,067 shares of the company’s stock valued at $771,000 after buying an additional 28,540 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Redwire in the 2nd quarter worth approximately $1,730,000. Militia Capital Management LLC acquired a new position in Redwire in the 1st quarter worth approximately $281,000. Finally, Parallel Advisors LLC purchased a new position in Redwire during the 1st quarter worth approximately $28,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.