Redwire (NYSE:RDW) Stock Price Up 1.9% - Still a Buy?

Key Points

• Redwire shares rose 1.9% to $11.99 in mid-day trading, with volume down 60% from its average. The company has a $3.0 billion market capitalization and highly volatile trading history, reflected in its 3.05 beta.
• Analyst views remain mixed: Cantor Fitzgerald raised its target to $13.50, Jefferies set a $15 target, while other firms maintained Hold or Sell ratings. The overall consensus is “Hold,” with an average price target of $14.44.
• Redwire exceeded quarterly expectations, reporting a loss of $0.09 per share versus the forecasted $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%, and a director recently sold nearly half of their holdings.

Redwire Corporation (NYSE:RDW - Get Free Report) shares were up 1.9% during mid-day trading on Friday . The company traded as high as $12.33 and last traded at $11.99. 11,408,950 shares changed hands during trading, a decline of 60% from the average daily volume of 28,738,629 shares. The stock had previously closed at $11.77.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RDW. Cantor Fitzgerald lifted their target price on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Wall Street Zen raised shares of Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Truist Financial raised shares of Redwire to a "strong-buy" rating in a report on Friday, May 1st. Finally, Jefferies Financial Group set a $15.00 price target on shares of Redwire in a report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $14.44.

Redwire Trading Up 1.9%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The stock has a market cap of $3.00 billion, a P/E ratio of -8.21 and a beta of 3.05. The stock has a 50-day moving average price of $11.25 and a 200-day moving average price of $11.39.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share 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 11.02%. The company had revenue of $117.07 million for the quarter, compared to analysts' expectations of $107.10 million. On average, equities research analysts expect that Redwire Corporation will post -0.68 EPS for the current year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RDW. Parallel Advisors LLC bought a new stake in Redwire during the first quarter worth about $28,000. KBC Group NV purchased a new position in shares of Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. increased its position in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock valued at $30,000 after purchasing an additional 3,396 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 valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company's stock valued at $31,000 after buying an additional 3,864 shares in the last quarter. Institutional investors own 8.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source