Redwire (NYSE:RDW) Stock Price Up 1.4% - What's Next?

Key Points

• Redwire shares rose 1.4% to $10.585 during mid-day trading, though volume was 52% below the average session level.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $14.69; targets range from $8 to $15.
• Redwire exceeded quarterly expectations, reporting revenue of $117.07 million and an adjusted EPS loss of $0.09, but remained unprofitable with a negative net margin of 57.26%. A company director also sold approximately $10.5 million in shares, reducing the position by 86.26%.

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) traded up 1.4% during mid-day trading on Thursday. The stock traded as high as $10.95 and last traded at $10.5850. Approximately 12,488,329 shares were traded during mid-day trading, a decline of 52% from the average session volume of 26,280,484 shares. The stock had previously closed at $10.44.

Analysts Set New Price Targets

Several research firms recently commented on RDW. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Bank of America raised their price objective on shares of Redwire from $7.00 to $8.00 and gave the stock an "underperform" rating in a research note on Monday, August 31st. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Thursday, August 6th. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a 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 company a "buy" rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.69.

Redwire Stock Performance

The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -7.25 and a beta of 3.08. The firm's 50-day moving average is $11.06 and its two-hundred day moving average is $11.78. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (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 business had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. As a group, sell-side analysts expect that Redwire Corporation will post -0.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total value of $10,539,792.90. Following the completion of the sale, the director owned 147,984 shares of the company's stock, valued at $1,678,138.56. This represents a 86.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by insiders.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently bought and sold shares of RDW. Deutsche Bank AG purchased a new position in shares of Redwire during the second quarter worth $2,529,000. Tidal Investments LLC acquired a new position in Redwire during the 2nd quarter worth approximately $7,717,000. Van ECK Associates Corp raised its stake 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 buying an additional 4,341,424 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Redwire in the second quarter valued at approximately $6,770,000. Finally, Bank of America Corp DE purchased a new position in shares of Redwire in the 2nd quarter valued at $13,124,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company's offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.

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