Redwire (NYSE:RDW) Shares Up 3.1% Following Analyst Upgrade

Key Points

• Redwire shares rose 3.1% after Canaccord Genuity raised its price target from $14 to $15 while maintaining a buy rating. The stock traded near $13.52, below the analyst consensus target of $14.44.
• Analyst opinions remain mixed: one rates Redwire a Strong Buy, five rate it Buy, three Hold, and two Sell, resulting in an overall consensus rating of Hold.
• Redwire exceeded quarterly expectations, reporting an adjusted loss of $0.09 per share versus the projected $0.16 loss and revenue of $117.07 million versus $107.10 million expected. However, the company remains unprofitable, with a negative net margin of 57.26%.

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) traded up 3.1% on Tuesday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $15.00. Canaccord Genuity Group currently has a buy rating on the stock. Redwire traded as high as $13.67 and last traded at $13.5230. Approximately 16,886,314 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 29,465,209 shares. The stock had previously closed at $13.12.

RDW has been the subject of several other reports. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Thursday. Truist Financial raised shares of Redwire to a "strong-buy" rating in a report on Friday, May 1st. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research report on Sunday. Weiss Ratings restated a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Redwire from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Redwire has an average rating of "Hold" and a consensus target price of $14.44.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RDW. Vise Technologies Inc. bought a new stake in shares of Redwire in the 2nd quarter valued at about $402,000. Wealthfront Advisers LLC bought a new position in Redwire during the 2nd quarter worth approximately $529,000. BlackRock Inc. bought a new position in Redwire during the 2nd quarter worth approximately $196,514,000. Deutsche Bank AG purchased a new position in Redwire in the 2nd quarter worth approximately $2,529,000. Finally, Perigon Wealth Management LLC purchased a new position in Redwire in the 2nd quarter worth approximately $874,000. Hedge funds and other institutional investors own 8.10% of the company's stock.

Redwire Stock Up 3.1%

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $12.07 and a two-hundred day simple moving average of $11.34. The stock has a market cap of $3.23 billion, a P/E ratio of -9.26 and a beta of 3.05.

Redwire (NYSE:RDW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 12.65%. The firm had revenue of $117.07 million for the quarter, compared to analysts' expectations of $107.10 million. On average, equities analysts forecast that Redwire Corporation will post -0.88 EPS for the current year.

About Redwire

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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