Redwire (NYSE:RDW) Stock Price Up 15.1% – Here’s Why

Redwire Corporation (NYSE:RDW) rose 15.1% during trading on Thursday . The stock traded as high as $22.75 and last traded at $21.4290. Approximately 74,516,984 shares changed hands during trading, an increase of 142% from the average daily volume of 30,796,689 shares. The stock had previously closed at $18.62.

Wall Street Analyst Weigh In

RDW has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Jefferies Financial Group lowered shares of Redwire from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $13.00 to $24.00 in a research note on Monday. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.44.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -6.88 and a beta of 2.92. The stock’s 50 day simple moving average is $12.80 and its 200-day simple moving average is $10.12.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The company’s revenue for the quarter was up 57.9% compared to the same quarter last year. Equities research analysts anticipate that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This represents a 17.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 23,327,795 shares of company stock worth $228,806,188. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several large investors have recently made changes to their positions in the business. AE Industrial Partners LP boosted its holdings in shares of Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares during the last quarter. State Street Corp boosted its holdings in shares of Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.