Redwire (NYSE:RDW) Now Covered by Analysts at Piper Sandler

Equities researchers at Piper Sandler assumed coverage on shares of Redwire (NYSE:RDW) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “neutral” rating and a $11.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 29.98% from the stock’s previous close.

RDW has been the topic of several other reports. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Cantor Fitzgerald upped their price target on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Guggenheim started coverage on shares of Redwire in a research report on Monday, September 14th. They set a “neutral” rating on the stock. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research report on Sunday, August 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.28.

Redwire Stock Performance

NYSE:RDW traded up $0.07 during midday trading on Thursday, reaching $8.46. 9,276,580 shares of the company traded hands, compared to its average volume of 25,485,031. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. Redwire has a twelve month low of $4.87 and a twelve month high of $26.64. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -5.80 and a beta of 3.12. The company has a fifty day moving average price of $11.06 and a 200 day moving average price of $11.83.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The firm had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, analysts expect that Redwire will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of Redwire stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the transaction, the director owned 147,984 shares of the company’s stock, valued at $1,678,138.56. The trade was a 86.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of hedge funds have recently made changes to their positions in RDW. BlackRock Inc. acquired a new stake in shares of Redwire in the second quarter valued at about $196,514,000. Van ECK Associates Corp increased its stake in shares of Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after buying an additional 4,341,424 shares in the last quarter. Bank of America Corp DE increased its stake in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Redwire during the second quarter worth about $16,583,000. Finally, Alyeska Investment Group L.P. bought a new position in Redwire in the second quarter valued at approximately $11,186,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Redwire

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.