Stock Traders Buy Large Volume of Redwire Call Options (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the target of some unusual options trading on Thursday. Stock traders acquired 25,002 call options on the stock. This represents an increase of approximately 26% compared to the average volume of 19,799 call options.

Insiders Place Their Bets

In related news, EVP Aaron Michael Futch acquired 18,410 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $5.45 per share, for a total transaction of $100,334.50. Following the completion of the acquisition, the executive vice president directly owned 88,704 shares in the company, valued at approximately $483,436.80. The trade was a 26.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $6.21 per share, for a total transaction of $199,682.55. Following the completion of the transaction, the chief executive officer directly owned 526,728 shares in the company, valued at $3,270,980.88. This represents a 6.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 56,065 shares of company stock valued at $330,047 and have sold 23,953,093 shares valued at $252,001,857. 2.60% of the stock is owned by company insiders.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently made changes to their positions in RDW. AE Industrial Partners LP raised its position in Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after purchasing an additional 49,765,262 shares in the last quarter. Voya Investment Management LLC acquired a new stake in shares of Redwire in the 3rd quarter valued at $20,372,000. Hood River Capital Management LLC bought a new position in shares of Redwire in the 2nd quarter valued at $36,206,000. Cooper Creek Partners Management LLC acquired a new position in shares of Redwire during the 2nd quarter worth $32,652,000. Finally, Two Sigma Investments LP lifted its position in shares of Redwire by 489.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,049,292 shares of the company’s stock worth $9,433,000 after buying an additional 871,223 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

Shares of NYSE RDW opened at $11.97 on Friday. The business has a fifty day moving average price of $7.77 and a two-hundred day moving average price of $9.45. The stock has a market capitalization of $1.98 billion, a PE ratio of -3.78 and a beta of 2.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. Redwire has a fifty-two week low of $4.87 and a fifty-two week high of $26.66.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). The company had revenue of $103.43 million during the quarter, compared to the consensus estimate of $132.05 million. Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%. As a group, equities analysts predict that Redwire will post -0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

RDW has been the topic of a number of recent research reports. Canaccord Genuity Group lowered their target price on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Bank of America lowered their price target on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 19th. Roth Mkm reissued a “buy” rating and issued a $15.00 price objective on shares of Redwire in a report on Thursday, November 6th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Finally, KeyCorp began coverage on shares of Redwire in a research report on Thursday, December 18th. They set a “sector weight” rating on the stock. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.13.

Redwire Company Profile

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.