Redwire (NYSE:RDW) Shares Climb 2.6% - Still a Buy?

Key Points

• Redwire shares rose 2.6% to approximately $11.57, with trading volume 47% below the average session level.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $14.69; ratings range from Strong Buy to Sell.
• Redwire exceeded quarterly expectations, reporting revenue of $117.1 million and an adjusted loss of $0.09 per share versus the $0.16 expected loss, though it continues to post negative profitability metrics.

Redwire Corporation (NYSE:RDW - Get Free Report)'s stock price traded up 2.6% on Thursday. The stock traded as high as $11.85 and last traded at $11.5650. 14,259,074 shares changed hands during trading, a decline of 47% from the average session volume of 26,659,029 shares. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RDW. Guggenheim started coverage on Redwire in a report on Monday, September 14th. They issued a "neutral" rating on the stock. Bank of America lifted their price target on Redwire from $7.00 to $8.00 and gave the company an "underperform" rating in a report on Monday, August 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Redwire in a research note on Friday, July 17th. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Redwire from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Redwire presently has a consensus rating of "Hold" and an average target price of $14.69.

Redwire Trading Up 2.6%

The company has a fifty day moving average of $10.83 and a two-hundred day moving average of $11.72. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -7.92 and a beta of 3.08.

Redwire (NYSE:RDW - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The firm had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. On average, research analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC bought a new stake in shares of Redwire in the first quarter valued at approximately $28,000. KBC Group NV bought a new position in Redwire during the first quarter worth $29,000. IFP Advisors Inc boosted its holdings in Redwire by 3,662.5% in the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company's stock valued at $44,000 after purchasing an additional 3,516 shares during the period. Rockefeller Capital Management L.P. grew its position in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company's stock worth $31,000 after purchasing an additional 3,668 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in Redwire in the 2nd quarter worth $57,000. Institutional investors and hedge funds own 8.10% of the company's stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company's offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.

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