Redwire (NYSE:RDW) Stock Price Up 1.3% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price traded up 1.3% during trading on Thursday . The company traded as high as $11.35 and last traded at $10.8430. Approximately 13,890,991 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 27,392,010 shares. The stock had previously closed at $10.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RDW shares. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Jefferies Financial Group set a $15.00 price target on Redwire in a research note on Sunday, August 9th. Cantor Fitzgerald lifted their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Canaccord Genuity Group upped their price objective 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. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, Redwire currently has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Stock Performance

The stock’s fifty day simple moving average is $10.68 and its two-hundred day simple moving average is $11.57. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -7.28 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $107.10 million. Equities research analysts anticipate that Redwire Corporation will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Redwire

A number of large investors have recently modified their holdings of RDW. BlackRock Inc. acquired a new stake in Redwire during the 2nd quarter worth approximately $196,514,000. Bank of America Corp DE lifted its position in Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares in the last quarter. Van ECK Associates Corp grew its stake in Redwire by 173.0% during the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock worth $83,791,000 after buying an additional 4,341,424 shares during the period. California State Teachers Retirement System grew its stake in Redwire by 2,236.7% during the second quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company’s stock worth $28,157,000 after buying an additional 2,203,783 shares during the period. Finally, State Street Corp grew its stake in Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after buying an additional 1,786,038 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Company Profile

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.