Brokerages Set Redwire Corporation (NYSE:RDW) Price Target at $14.22

Shares of Redwire Corporation (NYSE:RDW) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.4444.

A number of brokerages have recently weighed in on RDW. Jefferies Financial Group lowered Redwire from a “buy” rating to a “hold” rating and increased their target price for the stock from $13.00 to $24.00 in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group increased their target price on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 23,327,795 shares of company stock worth $228,806,188 in the last 90 days. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC bought a new position in shares of Redwire during the first quarter worth approximately $28,000. KBC Group NV bought a new position in Redwire during the 1st quarter worth $29,000. Sunbelt Securities Inc. increased its stake in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the period. Rockefeller Capital Management L.P. increased its stake in Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after acquiring an additional 3,668 shares during the period. Finally, CWM LLC increased its stake in Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares during the period. Institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

NYSE:RDW opened at $18.44 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $12.80 and its two-hundred day moving average price is $10.15. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -6.88 and a beta of 2.91. Redwire has a 12-month low of $4.87 and a 12-month high of $26.64.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The business had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. Redwire’s quarterly revenue was up 57.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, analysts anticipate that Redwire will post -0.76 earnings per share for the current year.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.