Redwire (NYSE:RDW) Shares Gap Up – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $14.06, but opened at $15.39. Redwire shares last traded at $13.9780, with a volume of 35,719,035 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RDW. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Alliance Global Partners reaffirmed 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 note on Tuesday, April 21st. Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $13.00 price target on shares of Redwire in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Stock Performance

The company has a market capitalization of $2.70 billion, a PE ratio of -5.20 and a beta of 2.41. 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 stock’s fifty day simple moving average is $9.83 and its 200-day simple moving average is $8.82.

Redwire (NYSE:RDW) last released its 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). The firm had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. As a group, equities analysts predict that Redwire Corporation will post -0.67 earnings per share for the current year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of Redwire stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total value of $10,336,265.59. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 23,327,795 shares of company stock valued at $228,806,188 over the last ninety days. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in RDW. AE Industrial Partners LP grew its position in shares of Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after purchasing an additional 6,101,959 shares during the period. State Street Corp grew its position in shares of Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after purchasing an additional 1,786,038 shares during the period. UBS Group AG grew its position in shares of Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after purchasing an additional 1,192,885 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Redwire in the fourth quarter valued at $7,676,000. Finally, Van ECK Associates Corp grew its position in shares of Redwire by 231.0% in the fourth quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock valued at $10,918,000 after purchasing an additional 1,002,504 shares during the period. 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.