Redwire (NYSE:RDW) Stock Price Up 1% - Here's What Happened

Key Points

• Redwire shares rose 1% to approximately $11.50, although trading volume was 62% below the stock’s average session volume.
• Analyst sentiment is mixed but improving: the consensus rating remains “Hold,” with an average price target of $14.44, while Truist upgraded the stock to “Strong Buy” and Canaccord raised its target to $15.
• Redwire exceeded quarterly expectations, reporting an adjusted loss of $0.09 per share versus the expected $0.16 loss and revenue of $117.07 million versus estimates of $107.10 million. The company remains unprofitable, with a negative net margin of 57.26%.

Redwire Corporation (NYSE:RDW - Get Free Report)'s share price was up 1% during trading on Tuesday . The stock traded as high as $11.85 and last traded at $11.4950. 10,760,112 shares changed hands during trading, a decline of 62% from the average session volume of 28,527,344 shares. The stock had previously closed at $11.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial upgraded Redwire to a "strong-buy" rating in a report on Friday, May 1st. Alliance Global Partners restated a "buy" rating on shares of Redwire in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Finally, Canaccord Genuity Group raised their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $14.44.

Redwire Stock Up 1.0%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The stock's 50 day simple moving average is $11.12 and its 200 day simple moving average is $11.40. The firm has a market cap of $2.87 billion, a P/E ratio of -7.87 and a beta of 3.05.

Redwire (NYSE:RDW - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Research analysts anticipate that Redwire Corporation will post -0.68 EPS for the current year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction 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 owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in Redwire during the 1st quarter worth approximately $28,000. KBC Group NV purchased a new stake in shares of Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. boosted its position in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock valued at $30,000 after acquiring an additional 3,396 shares in the last quarter. CWM LLC raised its holdings in Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company's stock worth $31,000 after purchasing an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company's stock worth $31,000 after acquiring an additional 3,668 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source