Redwire Co. (NYSE:RDW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Redwire Co. (NYSE:RDW) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.71.

A number of research analysts have weighed in on RDW shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. B. Riley dropped their price objective on Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of Redwire in a research note on Wednesday, March 12th.

Insiders Place Their Bets

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the completion of the sale, the insider now owns 4,157,489 shares of the company’s stock, valued at $81,528,359.29. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 589,213 shares of company stock worth $12,059,370. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of RDW. Vanguard Group Inc. lifted its stake in Redwire by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock worth $21,573,000 after purchasing an additional 101,620 shares in the last quarter. Barclays PLC increased its holdings in shares of Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock valued at $20,713,000 after purchasing an additional 77,228 shares during the last quarter. Geode Capital Management LLC lifted its position in Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after buying an additional 30,963 shares in the last quarter. Federated Hermes Inc. boosted its stake in Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after buying an additional 310,769 shares during the last quarter. Finally, State Street Corp grew its holdings in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Redwire Price Performance

NYSE:RDW opened at $8.81 on Monday. The company has a 50 day moving average price of $17.01 and a 200-day moving average price of $13.08. Redwire has a 1-year low of $3.39 and a 1-year high of $26.66. The firm has a market cap of $665.42 million, a price-to-earnings ratio of -7.28 and a beta of 2.33.

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.