Redwire (NYSE:RDW) Stock Price Up 1.3% - What's Next?

Key Points

• Redwire shares rose 1.3% to approximately $10.84, with trading volume about 49% below the average session volume.
• Analyst sentiment remains mixed: the consensus rating is “Hold”, with an average price target of $14.69, although several firms recently raised their targets and maintained Buy or Overweight ratings.
• Redwire exceeded quarterly expectations, reporting revenue of $117.07 million and an adjusted EPS loss of $0.09 versus the expected $0.16 loss, but it remains unprofitable with a negative net margin of 57.26%.

Redwire Corporation (NYSE:RDW - Get Free Report)'s stock price traded up 1.3% during trading on Thursday . The stock traded as high as $11.35 and last traded at $10.8430. Approximately 13,890,991 shares were traded during trading, a decline of 49% from the average session volume of 27,392,010 shares. The stock had previously closed at $10.70.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Cantor Fitzgerald upped their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. 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. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Redwire from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Canaccord Genuity Group boosted their price objective on Redwire from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $14.69.

Redwire Stock Up 1.3%

The business's 50 day simple moving average is $10.70 and its 200 day simple moving average is $11.56. The company has a market capitalization of $2.71 billion, a PE ratio of -7.43 and a beta of 3.08. 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 posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $107.10 million. As a group, analysts forecast that Redwire Corporation will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG acquired a new stake in Redwire in the 2nd quarter worth approximately $2,529,000. Van ECK Associates Corp lifted its position in Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company's stock worth $83,791,000 after acquiring an additional 4,341,424 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Redwire during the second quarter valued at about $6,770,000. Trivest Advisors Ltd bought a new position in shares of Redwire during the 1st quarter worth about $5,398,000. Finally, BlackRock Inc. bought a new position in Redwire during the second quarter worth about $196,514,000. 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.

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