Redwire (NYSE:RDW) Shares Gap Up – Here’s What Happened

Shares of Redwire Corporation (NYSE:RDW) gapped up before the market opened on Friday . The stock had previously closed at $11.98, but opened at $12.83. Redwire shares last traded at $12.6230, with a volume of 13,597,035 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on RDW. Cantor Fitzgerald lowered their price objective on Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Redwire in a research note on Tuesday, December 23rd. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Industrial Alliance Securities set a $9.00 price objective on Redwire in a research note on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.13.

Redwire Trading Up 13.0%

The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $7.77 and its 200-day moving average is $9.45. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -4.27 and a beta of 2.44.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.15). Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. The firm had revenue of $103.43 million during the quarter, compared to analyst estimates of $132.05 million. Research analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, CAO Chris Edmunds purchased 5,500 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $5.46 per share, with a total value of $30,030.00. Following the purchase, the chief accounting officer directly owned 107,441 shares in the company, valued at approximately $586,627.86. This trade represents a 5.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ae Red Holdings, Llc sold 12,656,683 shares of the stock in a transaction 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 transaction, the director owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. This represents a 17.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 56,065 shares of company stock valued at $330,047 and have sold 23,953,093 shares valued at $252,001,857. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Register Financial Advisors LLC boosted its stake in Redwire by 4.5% during the fourth quarter. Register Financial Advisors LLC now owns 342,750 shares of the company’s stock worth $2,605,000 after buying an additional 14,850 shares during the period. RPG Investment Advisory LLC purchased a new stake in shares of Redwire in the 4th quarter valued at approximately $543,000. Harbor Capital Advisors Inc. acquired a new position in shares of Redwire in the 4th quarter worth approximately $497,000. Sage Advisors LLC purchased a new position in shares of Redwire during the 4th quarter worth approximately $79,000. Finally, SG Americas Securities LLC increased its holdings in Redwire by 184.2% in the 4th quarter. SG Americas Securities LLC now owns 66,619 shares of the company’s stock valued at $506,000 after purchasing an additional 43,182 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.