Redwire (NYSE:RDW) Stock Price Up 12.4% – Time to Buy?

Redwire Corporation (NYSE:RDW)’s stock price was up 12.4% during mid-day trading on Friday . The company traded as high as $9.88 and last traded at $10.3370. Approximately 6,770,341 shares changed hands during trading, a decline of 72% from the average daily volume of 23,931,402 shares. The stock had previously closed at $9.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Redwire in a research report on Wednesday, January 28th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Canaccord Genuity Group increased their target price on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and an average target price of $13.89.

Redwire Stock Up 15.6%

The company has a 50-day moving average price of $9.44 and a 200 day moving average price of $8.63. The firm has a market capitalization of $2.04 billion, a PE ratio of -3.96 and a beta of 2.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.27.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 12.05%. The business had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Redwire’s revenue was up 57.9% on a year-over-year basis. Analysts forecast that Redwire Corporation will post -0.49 earnings per share for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 977,887 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 24,763,287 shares of company stock worth $243,300,159 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC bought a new position in shares of Redwire during the first quarter valued at approximately $28,000. KBC Group NV bought a new position in shares of Redwire during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after purchasing an additional 3,396 shares during the period. CWM LLC boosted its holdings in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the period. Institutional investors own 8.10% of the company’s stock.

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.