Redwire Sees Unusually Large Options Volume (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the target of unusually large options trading on Thursday. Stock investors purchased 25,002 call options on the company. This is an increase of 26% compared to the average daily volume of 19,799 call options.

Insiders Place Their Bets

In related news, EVP Aaron Michael Futch bought 18,410 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $5.45 per share, with a total value of $100,334.50. Following the completion of the acquisition, the executive vice president owned 88,704 shares in the company, valued at approximately $483,436.80. This represents a 26.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the sale, the director directly owned 61,541,253 shares in the company, valued at $646,798,569.03. This trade represents a 17.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders purchased 56,065 shares of company stock worth $330,047 and sold 23,953,093 shares worth $252,001,857. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently made changes to their positions in the stock. Ameritas Advisory Services LLC acquired a new stake in shares of Redwire in the second quarter valued at about $54,000. Abich Financial Wealth Management LLC acquired a new stake in Redwire in the third quarter valued at approximately $41,000. Russell Investments Group Ltd. raised its stake in shares of Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Redwire by 440.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after purchasing an additional 5,395 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Trading Up 15.5%

RDW stock traded up $1.58 during midday trading on Thursday, hitting $11.78. The stock had a trading volume of 20,598,042 shares, compared to its average volume of 26,937,051. The company’s 50-day moving average price is $7.64 and its 200 day moving average price is $9.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. The firm has a market cap of $1.94 billion, a PE ratio of -3.72 and a beta of 2.44. Redwire has a 12-month low of $4.87 and a 12-month high of $26.66.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.15). The business had revenue of $103.43 million during the quarter, compared to analysts’ expectations of $132.05 million. Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. On average, equities research analysts predict that Redwire will post -0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Redwire in a report on Tuesday, December 23rd. Cantor Fitzgerald cut their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Wednesday, October 8th. Bank of America dropped their price objective on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, November 19th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.13.

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.