Redwire (NYSE:RDW) Trading Up 2.8% - Here's Why

Key Points

• Redwire shares rose 2.8% to about $13.57 in Friday midday trading, with volume below the stock’s daily average.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $14.44 target price, although several firms maintain Buy or Strong Buy ratings and Jefferies set a $15 target.
• Redwire’s latest quarter exceeded expectations, reporting an adjusted loss of $0.09 per share versus the anticipated $0.16 loss and revenue of $117.07 million versus estimates of $107.10 million.

Redwire Corporation (NYSE:RDW - Get Free Report) traded up 2.8% on Friday . The stock traded as high as $14.02 and last traded at $13.5720. 14,125,915 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 29,198,400 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Jefferies Financial Group set a $15.00 price target on Redwire in a research note on Sunday. Truist Financial upgraded shares of Redwire to a "strong-buy" rating in a research report on Friday, May 1st. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a report on Thursday, August 6th. Cantor Fitzgerald lifted their target price on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Redwire in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Redwire currently has a consensus rating of "Hold" and a consensus target price of $14.44.

Redwire Stock Up 2.8%

The company has a market capitalization of $3.24 billion, a P/E ratio of -9.30 and a beta of 3.05. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $11.66 and a 200 day moving average price of $11.38.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 12.65% and a negative net margin of 57.26%.The business had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. On average, research analysts anticipate that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Redwire

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in shares of Redwire by 4.4% during the fourth quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company's stock valued at $159,000 after acquiring an additional 877 shares during the last quarter. Parvin Asset Management LLC increased its holdings in Redwire by 6.9% in the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company's stock valued at $152,000 after purchasing an additional 1,150 shares during the period. Tower Research Capital LLC TRC increased its holdings in Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company's stock valued at $102,000 after purchasing an additional 1,533 shares during the period. BNP Paribas Financial Markets raised its position in Redwire by 12.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company's stock worth $495,000 after purchasing an additional 3,248 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new position in Redwire during the 1st quarter worth about $28,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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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