Redwire (NYSE:RDW) Trading 13.9% Higher – Here’s What Happened

Redwire Corporation (NYSE:RDW) shares rose 13.9% during trading on Friday . The stock traded as high as $17.89 and last traded at $17.4850. Approximately 54,939,984 shares were traded during mid-day trading, an increase of 101% from the average daily volume of 27,280,779 shares. The stock had previously closed at $15.35.

Wall Street Analyst Weigh In

RDW has been the subject of several research reports. Jefferies Financial Group restated a “buy” rating and issued a $13.00 target price on shares of Redwire in a research note on Sunday, May 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Canaccord Genuity Group raised their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Roth Mkm restated a “buy” rating and issued a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Price Performance

The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -6.52 and a beta of 2.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The business has a 50 day simple moving average of $10.26 and a 200-day simple moving average of $9.01.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Equities research analysts expect that Redwire Corporation will post -0.67 earnings per share for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of Redwire stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. The trade was a 17.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 23,327,795 shares of company stock worth $228,806,188. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC bought a new position in shares of Redwire during the 1st quarter worth approximately $28,000. KBC Group NV bought a new position in shares of Redwire during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its position in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after buying an additional 3,396 shares in the last quarter. CWM LLC lifted its position in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after buying an additional 3,668 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

About Redwire

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.