Redwire (NYSE:RDW) Trading 5.5% Higher – What’s Next?

Redwire Corporation (NYSE:RDW)’s share price was up 5.5% during mid-day trading on Wednesday . The stock traded as high as $10.97 and last traded at $10.7750. 5,509,337 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 31,630,828 shares. The stock had previously closed at $10.21.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RDW. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Canaccord Genuity Group upped their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group upgraded Redwire to a “hold” rating in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Price Performance

The stock has a market capitalization of $2.50 billion, a P/E ratio of -3.92 and a beta of 3.01. The company’s 50 day simple moving average is $14.36 and its two-hundred day simple moving average is $11.26. 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 announced its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The business had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm’s revenue was up 57.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) earnings per share. As a group, equities analysts expect that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $10.57, for a total transaction of $33,244,837.99. Following the sale, the director owned 26,273,144 shares in the company, valued at approximately $277,707,132.08. This represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 12,803,657 shares of company stock valued at $143,429,127 over the last quarter. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after purchasing an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 in the last quarter. Strs Ohio acquired a new position in Redwire during the 1st quarter worth $69,000. Rhumbline Advisers boosted its position in Redwire by 61.0% in the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after buying an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Redwire by 57.6% in the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after buying an additional 7,750 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.