Redwire (NYSE:RDW) Trading 2.3% Higher - Still a Buy?

Key Points

• Redwire shares rose 2.3% to about $10.74 in mid-day trading, although volume was 62% below the average session level. The company has a $2.68 billion market capitalization and a high beta of 3.08.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $14.69. Recent targets range from $8.00 to $15.00, including upgrades from Cantor Fitzgerald and Bank of America.
• Redwire beat quarterly expectations, reporting an adjusted loss of $0.09 per share versus the expected $0.16 loss and revenue of $117.07 million versus the $107.10 million consensus. However, the company remains unprofitable, with a negative net margin of 57.26%.

Redwire Corporation (NYSE:RDW - Get Free Report) traded up 2.3% during mid-day trading on Tuesday . The company traded as high as $10.94 and last traded at $10.7360. 10,275,375 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 27,106,670 shares. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

RDW has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their target price on shares of Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Bank of America boosted their price target on shares of Redwire from $7.00 to $8.00 and gave the stock an "underperform" rating in a research report on Monday, August 31st. Guggenheim began coverage on Redwire in a research report on Monday. They set a "neutral" rating for the company. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research note on Thursday, August 6th. Finally, Jefferies Financial Group set a $15.00 price objective on Redwire in a research report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Redwire presently has an average rating of "Hold" and an average price target of $14.69.

Redwire Stock Up 2.3%

The stock has a market cap of $2.68 billion, a P/E ratio of -7.35 and a beta of 3.08. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average is $10.66 and its 200 day moving average is $11.61.

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. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The company had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. As a group, equities research analysts forecast that Redwire Corporation will post -0.7 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Redwire in the 2nd quarter valued at about $196,514,000. Van ECK Associates Corp grew its stake in shares of Redwire by 173.0% during the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company's stock valued at $83,791,000 after purchasing an additional 4,341,424 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company's stock valued at $57,970,000 after purchasing an additional 6,730,414 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Redwire in the second quarter valued at approximately $16,583,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Redwire in the second quarter valued at approximately $11,186,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

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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