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

Redwire Corporation (NYSE:RDW)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $17.49, but opened at $19.65. Redwire shares last traded at $21.87, with a volume of 31,246,134 shares traded.

Analysts Set New Price Targets

RDW has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and set a $13.00 price objective on shares of Redwire in a report on Sunday, May 10th. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Finally, Roth Mkm restated a “buy” rating and set a $20.00 price objective on shares of Redwire in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.22.

Redwire Stock Up 27.7%

The firm’s fifty day moving average price is $10.58 and its 200-day moving average price is $9.15. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -8.34 and a beta of 2.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million during 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%. The business’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. Sell-side analysts expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the completion of the transaction, the director directly owned 21,494,349 shares in the company, valued at $227,195,268.93. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 23,327,795 shares of company stock valued at $228,806,188 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 6,730,414 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Redwire by 157.5% in the first quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock valued at $463,000 after buying an additional 33,400 shares during the period. Amundi boosted its position in Redwire by 55.4% during the first quarter. Amundi now owns 40,197 shares of the company’s stock valued at $342,000 after acquiring an additional 14,337 shares during the last quarter. Parvin Asset Management LLC grew its holdings in Redwire by 6.9% during the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after acquiring an additional 1,150 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Redwire by 33.6% during the 1st quarter. California State Teachers Retirement System now owns 98,527 shares of the company’s stock worth $837,000 after acquiring an additional 24,765 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.