Redwire (NYSE:RDW) Trading 1.7% Higher – Time to Buy?

Redwire Corporation (NYSE:RDW) shares were up 1.7% during trading on Friday . The company traded as high as $10.72 and last traded at $10.55. Approximately 8,890,014 shares traded hands during trading, a decline of 68% from the average session volume of 27,630,023 shares. The stock had previously closed at $10.37.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RDW shares. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America boosted their target price on Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Canaccord Genuity Group upped their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Redwire has a consensus rating of “Hold” and a consensus price target of $14.69.

Redwire Stock Performance

The company has a market cap of $2.64 billion, a price-to-earnings ratio of -7.23 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The stock has a 50-day moving average price of $10.78 and a 200 day moving average price of $11.49.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The business had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. As a group, analysts anticipate that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RDW. BlackRock Inc. bought a new position in shares of Redwire during the second quarter worth about $196,514,000. Bank of America Corp DE lifted its stake in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. Van ECK Associates Corp boosted its position in Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock worth $83,791,000 after acquiring an additional 4,341,424 shares during the last quarter. California State Teachers Retirement System boosted its position in Redwire by 2,236.7% during the 2nd quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company’s stock worth $28,157,000 after acquiring an additional 2,203,783 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after acquiring an additional 1,786,038 shares in the last quarter. 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.