Redwire (NYSE:RDW) Trading 7% Higher Following Analyst Upgrade

Redwire Corporation (NYSE:RDW) shares shot up 7% during mid-day trading on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $15.00 price target on the stock, up from their previous price target of $13.00. Redwire traded as high as $9.37 and last traded at $9.15. 7,429,943 shares were traded during mid-day trading, a decline of 72% from the average session volume of 26,242,984 shares. The stock had previously closed at $8.55.

A number of other research analysts also recently issued reports on RDW. KeyCorp initiated coverage on shares of Redwire in a research report on Thursday, December 18th. They set a “sector weight” rating on the stock. Canaccord Genuity Group lifted their price target on shares of Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Zacks Research cut shares of Redwire from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Redwire in a research report on Tuesday, December 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.89.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the completion of the sale, the director directly owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. The trade was a 17.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 40,400,346 shares of company stock worth $453,127,301. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position 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 purchasing an additional 877 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Redwire by 32.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Redwire by 24.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock valued at $111,000 after buying an additional 2,442 shares during the last quarter. Huntleigh Advisors Inc. lifted its position in shares of Redwire by 4.2% during the 3rd quarter. Huntleigh Advisors Inc. now owns 61,837 shares of the company’s stock worth $556,000 after buying an additional 2,488 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Redwire by 71.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,724 shares of the company’s stock worth $126,000 after buying an additional 3,213 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Price Performance

The stock has a market cap of $1.59 billion, a PE ratio of -4.07 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.62. The business has a 50 day moving average price of $9.86 and a two-hundred day moving average price of $8.48.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.19). Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%.The business had revenue of $108.79 million during the quarter, compared to analysts’ expectations of $98.78 million. Research analysts expect that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

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.