Redwire (NYSE:RDW) Shares Gap Up - Here's What Happened

Key Points

• Redwire Corporation shares opened at $9.15, a rise from the previous close of $8.69, with a trading volume of over 1 million shares.
• Analyst ratings for Redwire vary, with 7 analysts recommending a "buy," while the consensus target price stands at $18.07.
• The company reported a loss of $0.39 per share for the most recent quarter, missing analysts' expectations significantly, and generated revenue of $61.76 million.

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $8.69, but opened at $9.15. Redwire shares last traded at $9.20, with a volume of 1,065,803 shares trading hands.

Analyst Upgrades and Downgrades

RDW has been the subject of several research reports. Canaccord Genuity Group reduced their price objective on shares of Redwire from $21.00 to $17.50 and set a "buy" rating for the company in a research report on Monday, August 11th. Truist Financial set a $16.00 target price on shares of Redwire and gave the stock a "hold" rating in a report on Thursday, June 26th. B. Riley reduced their target price on shares of Redwire from $25.00 to $20.00 and set a "buy" rating for the company in a report on Friday, August 8th. HC Wainwright reissued a "buy" rating and set a $22.00 price objective (down from $26.00) on shares of Redwire in a research note on Friday, August 8th. Finally, Bank of America started coverage on Redwire in a research report on Monday, August 18th. They issued an "underperform" rating and a $10.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.07.

Redwire Stock Down 0.9%

The business's 50 day simple moving average is $11.57 and its 200-day simple moving average is $12.34. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -2.44 and a beta of 2.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.46.

Redwire (NYSE:RDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.28). The firm had revenue of $61.76 million for the quarter, compared to analyst estimates of $80.48 million. Redwire had a negative net margin of 71.95% and a negative return on equity of 32.67%. Sell-side analysts expect that Redwire Corporation will post -0.85 earnings per share for the current year.

Insider Activity

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of Redwire stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company's stock.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently made changes to their positions in RDW. Ameritas Advisory Services LLC acquired a new stake in Redwire in the 2nd quarter worth approximately $54,000. KLP Kapitalforvaltning AS acquired a new position in shares of Redwire during the 1st quarter worth about $42,000. FNY Investment Advisers LLC acquired a new position in shares of Redwire during the 1st quarter worth about $47,000. GAMMA Investing LLC lifted its position in shares of Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock worth $52,000 after purchasing an additional 6,217 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company's stock worth $102,000 after buying an additional 1,533 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company's stock.

Redwire Company Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.