Redwire (NYSE:RDW) Rating Lowered to Neutral at B. Riley

B. Riley lowered shares of Redwire (NYSE:RDW) from a buy rating to a neutral rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $9.50 target price on the stock, up from their previous target price of $8.00.

A number of other research analysts also recently weighed in on RDW. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Alliance Global Partners increased their price objective on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.95.

Redwire Price Performance

NYSE RDW opened at $7.75 on Tuesday. The business’s 50-day moving average is $7.18 and its 200 day moving average is $6.20. The stock has a market capitalization of $515.69 million, a PE ratio of -7.91 and a beta of 1.96. Redwire has a 1 year low of $2.35 and a 1 year high of $9.36.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The firm had revenue of $78.11 million for the quarter, compared to analysts’ expectations of $66.86 million. As a group, equities research analysts anticipate that Redwire will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after acquiring an additional 3,681 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Redwire during the 3rd quarter valued at about $623,000. Bank of New York Mellon Corp raised its holdings in Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after buying an additional 59,372 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Redwire by 59.4% in the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock worth $511,000 after buying an additional 26,543 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in shares of Redwire by 23.9% in 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 in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.