Redwire (NYSE:RDW) Stock Price Up 8.7% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s share price shot up 8.7% during mid-day trading on Thursday . The company traded as high as $10.89 and last traded at $10.7750. 21,610,200 shares traded hands during trading, a decline of 8% from the average session volume of 23,454,813 shares. The stock had previously closed at $9.91.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Roth Mkm reissued a “buy” rating and set a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Canaccord Genuity Group increased their target price on shares of Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Truist Financial upgraded shares of Redwire from a “hold” rating to a “buy” rating and boosted their price target for the company from $13.00 to $15.00 in a report on Monday, March 9th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.89.

Redwire Trading Down 7.7%

The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -4.37 and a beta of 2.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.62. The company’s 50 day simple moving average is $9.16 and its two-hundred day simple moving average is $8.64.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.19). Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%.The business had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million. Research analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the sale, the director directly owned 36,135,217 shares of the company’s stock, valued at approximately $330,637,235.55. This represents a 17.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 31,851,046 shares of company stock worth $346,368,591. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Redwire by 125.0% in the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after purchasing an additional 28,576 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after buying an additional 276,814 shares in the last quarter. Strs Ohio acquired a new position in shares of Redwire in the 1st quarter valued at $69,000. Rhumbline Advisers increased its position in shares of Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after purchasing an additional 21,417 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Redwire by 57.6% during the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after purchasing an additional 7,750 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

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.