Redwire (NYSE:RDW) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Redwire (NYSE:RDW) in a report released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $6.00 price target on the stock.

Other analysts have also issued research reports about the company. B. Riley raised Redwire from a neutral rating to a buy rating and set a $8.00 price target on the stock in a research note on Friday, August 9th. Alliance Global Partners boosted their price target on Redwire from $7.00 to $8.25 and gave the company a buy rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $7.65.

Redwire Trading Down 0.4 %

Shares of NYSE:RDW opened at $6.92 on Monday. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23. The firm has a market capitalization of $460.46 million, a PE ratio of -9.61 and a beta of 1.96. The business’s 50 day moving average is $6.42 and its 200-day moving average is $5.52.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The firm had revenue of $78.11 million during the quarter, compared to the consensus estimate of $66.86 million. On average, sell-side analysts predict that Redwire will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the transaction, the director now owns 35,923,576 shares of the company’s stock, valued at $283,077,778.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 238,732 shares of company stock valued at $1,836,940. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new position in Redwire in the second quarter worth $74,000. AQR Capital Management LLC bought a new stake in shares of Redwire during the second quarter worth $89,000. Squarepoint Ops LLC raised its position in shares of Redwire by 59.4% during the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock worth $511,000 after acquiring an additional 26,543 shares during the last quarter. LJI Wealth Management LLC bought a new stake in shares of Redwire during the second quarter worth $258,000. Finally, Rhumbline Advisers raised its position in shares of Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after acquiring an additional 12,703 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.