Redwire (NYSE:RDW) Sees Large Volume Increase – What’s Next?

Redwire Corporation (NYSE:RDW) saw unusually-strong trading volume on Tuesday . Approximately 4,776,784 shares were traded during trading, an increase of 282% from the previous session’s volume of 1,249,930 shares.The stock last traded at $16.96 and had previously closed at $20.57.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. B. Riley decreased their price objective on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th. Wall Street Zen lowered Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Monday, May 12th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Redwire in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Redwire Stock Down 0.4%

The company has a 50 day simple moving average of $13.17 and a 200-day simple moving average of $14.51. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -7.36 and a beta of 2.53.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $61.40 million for the quarter, compared to the consensus estimate of $74.54 million. On average, equities research analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its stake in Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock valued at $8,202,000 after acquiring an additional 310,769 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Redwire during the 4th quarter valued at approximately $4,830,000. EAM Global Investors LLC acquired a new position in Redwire during the 4th quarter valued at approximately $4,689,000. Goldman Sachs Group Inc. grew its stake in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the last quarter. Finally, Andar Capital Management HK Ltd acquired a new stake in Redwire in the fourth quarter worth $3,621,000. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Company Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.