Redwire (NYSE:RDW) Shares Up 1.4% – Time to Buy?

Redwire Corporation (NYSE:RDW) shares rose 1.4% on Thursday. The stock traded as high as $10.95 and last traded at $10.5850. 12,488,329 shares were traded during trading, a decline of 52% from the average session volume of 26,280,484 shares. The stock had previously closed at $10.44.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RDW. Canaccord Genuity Group raised their price objective on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Bank of America upped their target price on Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Finally, Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus target price of $14.69.

Redwire Price Performance

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 company has a fifty day moving average price of $11.06 and a 200 day moving average price of $11.78. The company has a market capitalization of $2.65 billion, a P/E ratio of -7.25 and a beta of 3.08.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The firm had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. On average, sell-side analysts forecast that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total value of $10,539,792.90. Following the transaction, the director owned 147,984 shares of the company’s stock, valued at approximately $1,678,138.56. This represents a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently modified their holdings of RDW. BlackRock Inc. acquired a new stake in shares of Redwire during the second quarter worth approximately $196,514,000. Van ECK Associates Corp increased its position 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 acquiring an additional 4,341,424 shares during the period. Bank of America Corp DE raised its holdings 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. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Redwire during the 2nd quarter valued at about $16,583,000. Finally, Alyeska Investment Group L.P. bought a new stake in Redwire in the second quarter valued at $11,186,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.