Redwire (NYSE:RDW) Sees Large Volume Increase – Here’s Why

Shares of Redwire Corporation (NYSE:RDW) saw unusually-high trading volume on Friday . Approximately 18,257,526 shares traded hands during mid-day trading, a decline of 42% from the previous session’s volume of 31,597,086 shares.The stock last traded at $15.7810 and had previously closed at $17.09.

Analyst Ratings Changes

RDW has been the subject of a number of recent research reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Jefferies Financial Group raised Redwire to a “hold” rating in a research report on Wednesday. Canaccord Genuity Group upped their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Truist Financial raised Redwire to a “strong-buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Price Performance

The firm has a 50-day simple moving average of $13.46 and a two-hundred day simple moving average of $10.47. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -5.75 and a beta of 2.92. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) 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 business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter last year, the business earned ($0.09) earnings per share. Redwire’s revenue was up 57.9% on a year-over-year basis. As a group, analysts predict that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 23,316,180 shares of company stock valued at $228,689,922. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of large investors have recently modified their holdings of RDW. Parallel Advisors LLC acquired a new position in shares of Redwire during the first quarter worth $28,000. KBC Group NV acquired a new position in shares of Redwire during the first quarter worth $29,000. Sunbelt Securities Inc. boosted its stake in 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 acquiring an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in 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 acquiring an additional 3,668 shares in the last quarter. Finally, CWM LLC boosted its stake in 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 acquiring an additional 3,864 shares in the last quarter. Hedge funds and other 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.