Redwire (NYSE:RDW) Shares Up 6.8% - Still a Buy?

Key Points

• Redwire shares rose 6.8% to about $11.24 in mid-day trading, with 15.2 million shares changing hands.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $14.69, ranging from $8.00 to $15.00.
• Redwire beat quarterly expectations, reporting a loss of $0.09 per share versus the projected $0.16 loss and revenue of $117.07 million versus the $107.10 million estimate, though it remains unprofitable with a negative 57.26% net margin.

Redwire Corporation (NYSE:RDW - Get Free Report)'s share price was up 6.8% during mid-day trading on Tuesday . The company traded as high as $11.36 and last traded at $11.2440. Approximately 15,186,297 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 27,537,898 shares. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Cantor Fitzgerald increased their target price on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Alliance Global Partners restated a "buy" rating on shares of Redwire in a research note on Thursday, August 6th. Jefferies Financial Group set a $15.00 price target on Redwire in a report on Sunday, August 9th. Finally, Bank of America upped their price objective on Redwire from $7.00 to $8.00 and gave the stock an "underperform" rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.69.

Redwire Price Performance

The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -7.70 and a beta of 3.08. The company has a fifty day moving average price of $10.75 and a two-hundred day moving average price of $11.53. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million for the quarter, compared to analysts' expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, equities research analysts expect that Redwire Corporation will post -0.7 EPS 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 that occurred on 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 sale, the director directly owned 1,077,419 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently made changes to their positions in RDW. Parallel Advisors LLC acquired a new stake in shares of Redwire in the first quarter valued at about $28,000. KBC Group NV acquired a new position in Redwire during the first quarter worth about $29,000. Sunbelt Securities Inc. increased its holdings 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 buying an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Redwire by 1,054.0% during the 4th 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 during the period. Finally, CWM LLC lifted its position in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company's stock valued at $31,000 after acquiring an additional 3,864 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Company Profile

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.