Redwire (NYSE:RDW) Given Overweight Rating at Cantor Fitzgerald

Redwire (NYSE:RDW)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $6.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential downside of 21.62% from the stock’s previous close.

RDW has been the subject of a number of other research reports. Longbow Research increased their price objective on Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Roth Mkm increased their target price on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Redwire has a consensus rating of “Buy” and a consensus price target of $6.75.

Redwire Stock Performance

Shares of NYSE:RDW opened at $7.66 on Monday. Redwire has a one year low of $2.35 and a one year high of $8.23. The stock has a fifty day moving average of $5.89 and a 200-day moving average of $4.28. The company has a market capitalization of $502.01 million, a PE ratio of -10.63 and a beta of 1.97.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $87.79 million during the quarter, compared to the consensus estimate of $65.88 million. As a group, research analysts forecast that Redwire will post -0.48 EPS for the current fiscal year.

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 94,579 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $7.88, for a total value of $745,282.52. Following the transaction, the director now directly owns 35,923,576 shares of the company’s stock, valued at $283,077,778.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently modified their holdings of RDW. LA Financiere DE L Echiquier increased its stake in shares of Redwire by 10.6% in the fourth quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock worth $1,282,000 after acquiring an additional 43,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in Redwire during the first quarter worth $59,000. DNB Asset Management AS increased its position in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after buying an additional 7,538 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after buying an additional 3,681 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.