Redwire (NYSE:RDW) Shares Up 1.7% - Still a Buy?

Key Points

• Redwire shares rose 1.7% to $10.55 in Friday trading, though volume was 68% below the stock’s average daily level.
• Analyst sentiment is mixed: the stock carries an average “Hold” rating and a $14.69 consensus price target, with targets ranging from $8.00 to $15.00.
• Redwire exceeded quarterly expectations, reporting a loss of $0.09 per share versus the estimated $0.16 loss and revenue of $117.07 million versus the $107.10 million consensus; however, profitability remained weak, with a negative 57.26% net margin.

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) rose 1.7% during trading on Friday . The company traded as high as $10.72 and last traded at $10.55. Approximately 8,890,014 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 27,630,023 shares. The stock had previously closed at $10.37.

Analyst Ratings Changes

A number of research firms have recently issued reports on RDW. Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Cantor Fitzgerald increased their price objective on shares of Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a report on Sunday, August 9th. Bank of America upped their target price on shares of Redwire from $7.00 to $8.00 and gave the company an "underperform" rating in a research note on Monday. Finally, Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $14.69.

Redwire Stock Performance

The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -7.23 and a beta of 3.08. The stock's 50-day simple moving average is $10.78 and its 200 day simple moving average is $11.49.

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 return on equity of 11.02% and a negative net margin of 57.26%.The business had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Analysts expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction dated Thursday, June 11th. The stock was 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. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Redwire

A number of large investors have recently modified their holdings of RDW. BlackRock Inc. bought a new position in Redwire in the 2nd quarter worth approximately $196,514,000. Bank of America Corp DE lifted its stake in shares of Redwire by 7,512.5% during the first 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 period. Van ECK Associates Corp boosted its holdings in Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company's stock valued at $83,791,000 after acquiring an additional 4,341,424 shares during the last quarter. California State Teachers Retirement System increased its position in Redwire by 2,236.7% in the second quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company's stock worth $28,157,000 after purchasing an additional 2,203,783 shares during the period. Finally, State Street Corp lifted its position in Redwire by 61.1% during the 4th 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. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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