Redwire (NYSE:RDW) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Redwire (NYSE:RDW) from a hold rating to a sell rating in a report published on Saturday.

A number of other analysts also recently weighed in on RDW. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Monday, May 12th. B. Riley lowered their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Redwire in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 target price on shares of Redwire in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Redwire Price Performance

Shares of NYSE:RDW opened at $20.39 on Friday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -16.85 and a beta of 2.53. The firm’s 50 day simple moving average is $12.90 and its 200 day simple moving average is $14.48. Redwire has a fifty-two week low of $4.87 and a fifty-two week high of $26.66.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $61.40 million during the quarter, compared to analyst estimates of $74.54 million. Equities research analysts expect that Redwire will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Redwire

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in shares of Redwire during the 4th quarter worth approximately $33,000. Summit Investment Advisors Inc. grew its stake in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after acquiring an additional 931 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Redwire during the 1st quarter worth approximately $42,000. FNY Investment Advisers LLC bought a new position in shares of Redwire during the 1st quarter worth approximately $47,000. Finally, GAMMA Investing LLC grew its stake in shares of Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company’s stock worth $52,000 after acquiring an additional 6,217 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

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.