Redwire (NYSE:RDW) Trading 1.4% Higher - Still a Buy?

Key Points

• Redwire shares rose 1.4% to about $11.76 in mid-day trading, although volume was 53% below the average session level.
• Analyst sentiment is mixed: Redwire has a consensus rating of “Hold” and an average price target of $14.69, with recent upgrades from Canaccord Genuity and Cantor Fitzgerald.
• The company exceeded quarterly revenue and adjusted EPS expectations, reporting $117.1 million in revenue and a $0.09 per-share loss, but remains unprofitable with a negative net margin of 57.26%.

Redwire Corporation (NYSE:RDW - Get Free Report) shares rose 1.4% during mid-day trading on Tuesday . The company traded as high as $11.90 and last traded at $11.7630. 12,503,998 shares traded hands during trading, a decline of 53% from the average session volume of 26,804,514 shares. The stock had previously closed at $11.60.

Analysts Set New Price Targets

RDW has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on shares of Redwire from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Thursday, August 6th. Wall Street Zen raised Redwire from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Cantor Fitzgerald lifted their price objective on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Redwire currently has a consensus rating of "Hold" and an average target price of $14.69.

Redwire Trading Up 1.4%

The company has a 50 day moving average price of $10.75 and a two-hundred day moving average price of $11.68. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -8.06 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92.

Redwire (NYSE:RDW - Get Free Report) last released its earnings results 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 business had revenue of $117.07 million during the quarter, compared to analysts' expectations of $107.10 million. On average, research analysts forecast that Redwire Corporation will post -0.7 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RDW. Parallel Advisors LLC acquired a new position in Redwire during the first quarter worth about $28,000. KBC Group NV purchased a new position in shares of Redwire during the 1st quarter worth $29,000. IFP Advisors Inc increased its position in shares of Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company's stock worth $44,000 after purchasing an additional 3,516 shares during the last quarter. Rockefeller Capital Management L.P. increased 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 worth $31,000 after purchasing an additional 3,668 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Redwire in the 2nd quarter valued at about $57,000. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Company Profile

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company's offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.

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