Redwire (NYSE:RDW) Trading 7.6% Higher – Should You Buy?

Redwire Corporation (NYSE:RDW) shares were up 7.6% during mid-day trading on Tuesday . The company traded as high as $8.70 and last traded at $8.73. Approximately 1,603,818 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 3,074,962 shares. The stock had previously closed at $8.11.

Analyst Ratings Changes

Several brokerages have weighed in on RDW. Canaccord Genuity Group dropped their target price on Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research report on Monday, August 11th. B. Riley dropped their target price on shares of Redwire from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Truist Financial set a $16.00 price target on Redwire and gave the stock a “hold” rating in a research report on Thursday, June 26th. Roth Capital restated a “buy” rating on shares of Redwire in a research note on Tuesday, June 24th. Finally, Bank of America assumed coverage on shares of Redwire in a research report on Monday, August 18th. They set an “underperform” rating and a $10.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.07.

Redwire Price Performance

The business’s 50 day moving average price is $11.20 and its 200 day moving average price is $12.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.11. The stock has a market capitalization of $1.32 billion, a P/E ratio of -2.83 and a beta of 2.49.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%.The business had revenue of $61.76 million during the quarter, compared to analysts’ expectations of $80.48 million. Sell-side analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of RDW. KLP Kapitalforvaltning AS purchased a new position in Redwire in the 1st quarter valued at approximately $42,000. FNY Investment Advisers LLC purchased a new position in Redwire during the 1st quarter worth $47,000. GAMMA Investing LLC raised its stake in shares of Redwire by 69,077.8% during the first quarter. GAMMA Investing LLC now owns 6,226 shares of the company’s stock worth $52,000 after purchasing an additional 6,217 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Redwire during the second quarter worth about $54,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Redwire by 1,172.5% in the first quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company’s stock valued at $67,000 after buying an additional 7,469 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

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.