Redwire (NYSE:RDW) Trading Up 9% – Still a Buy?

Redwire Corporation (NYSE:RDW) rose 9% during trading on Thursday . The company traded as high as $8.52 and last traded at $8.4770. Approximately 16,960,610 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 29,858,275 shares. The stock had previously closed at $7.78.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RDW. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Canaccord Genuity Group boosted their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Wall Street Zen cut shares of Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Redwire has a consensus rating of “Moderate Buy” and an average price target of $15.44.

Redwire Stock Performance

The company has a market capitalization of $2.02 billion, a P/E ratio of -3.16 and a beta of 3.01. The business has a 50 day moving average of $13.68 and a 200 day moving average of $11.35. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last released its quarterly earnings data 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). The firm had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business’s revenue was up 57.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. On average, sell-side analysts predict that Redwire Corporation will post -0.81 earnings per share for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Redwire by 2,556.0% during the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after purchasing an additional 555,536 shares during the period. Capelight Capital Asset Management LP bought a new position in shares of Redwire during the 4th quarter valued at approximately $1,330,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Redwire during the 4th quarter valued at $7,676,000. Trivest Advisors Ltd bought a new stake in Redwire in the first quarter worth $5,398,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Redwire during the fourth quarter worth $497,000. 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.