Redwire (NYSE:RDW) Price Target Raised to $8.25 at Alliance Global Partners

Redwire (NYSE:RDW) had its price objective lifted by equities researchers at Alliance Global Partners from $7.00 to $8.25 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Alliance Global Partners’ price target suggests a potential upside of 19.39% from the company’s current price.

Several other analysts also recently issued reports on the company. Longbow Research upped their price objective on Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of Redwire in a research report on Monday, July 22nd. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $8.00 in a research note on Monday, July 22nd. Finally, Roth Mkm upped their price objective on shares of Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.65.

Redwire Price Performance

Shares of NYSE:RDW traded down $0.06 during trading on Tuesday, reaching $6.91. The company had a trading volume of 125,427 shares, compared to its average volume of 322,789. The firm has a market capitalization of $453.16 million, a price-to-earnings ratio of -9.54 and a beta of 1.97. The stock’s fifty day moving average price is $6.31 and its 200 day moving average price is $4.54. Redwire has a fifty-two week low of $2.35 and a fifty-two week high of $8.23.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $87.79 million during the quarter, compared to analyst estimates of $65.88 million. On average, equities analysts anticipate that Redwire will post -0.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 94,579 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $7.88, for a total transaction of $745,282.52. Following the completion of the transaction, the director now owns 35,923,576 shares of the company’s stock, valued at approximately $283,077,778.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 238,732 shares of company stock valued at $1,836,940 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Redwire

A number of institutional investors have recently modified their holdings of RDW. SG Americas Securities LLC acquired a new position in shares of Redwire in the 1st quarter valued at approximately $59,000. DNB Asset Management AS increased its position in 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 during the period. Bank of New York Mellon Corp grew its stake in shares of 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 purchasing an additional 59,372 shares in the last quarter. LA Financiere DE L Echiquier grew its stake in shares of Redwire by 10.6% in the fourth quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock worth $1,282,000 after purchasing an additional 43,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after buying an additional 3,681 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.