Redwire Co. (NYSE:RDW) Receives $7.00 Average PT from Brokerages

Shares of Redwire Co. (NYSE:RDW) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $7.00.

Several research firms have recently weighed in on RDW. Longbow Research increased their price objective on shares of Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and increased their price target for the stock from $6.00 to $8.00 in a report on Monday, July 22nd. Roth Mkm boosted their price objective on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 target price on shares of Redwire in a research note on Monday, July 22nd.

Redwire Trading Up 4.6 %

NYSE RDW opened at $7.24 on Monday. The firm has a market capitalization of $474.79 million, a PE ratio of -10.06 and a beta of 1.97. The business’s 50-day moving average price is $6.27 and its two-hundred day moving average price is $4.49. Redwire has a 12 month low of $2.35 and a 12 month high of $8.23.

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

Insider Transactions at Redwire

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the completion of the sale, the director now directly owns 35,923,576 shares of the company’s stock, valued at approximately $283,077,778.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 238,732 shares of company stock valued at $1,836,940 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Redwire

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Redwire during the first quarter worth $59,000. DNB Asset Management AS raised its holdings in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after acquiring an additional 7,538 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after acquiring an additional 59,372 shares during the last quarter. LA Financiere DE L Echiquier lifted its position in Redwire by 10.6% in the 4th quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock valued at $1,282,000 after acquiring an additional 43,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after purchasing an additional 3,681 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.