Redwire (NYSE:RDW) Stock Lifted to “Hold” by Piper Sandler

Piper Sandler upgraded shares of Redwire (NYSE:RDW) to a hold rating in a research report sent to investors on Thursday,Zacks reports.

Several other equities analysts also recently commented on RDW. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a report on Sunday, August 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Canaccord Genuity Group upped their price target on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Guggenheim initiated coverage on shares of Redwire in a research note on Monday, September 14th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Redwire currently has an average rating of “Hold” and a consensus price target of $14.28.

Redwire Stock Up 3.3%

RDW stock opened at $8.90 on Thursday. Redwire has a 1-year low of $4.87 and a 1-year high of $26.64. The business’s 50 day simple moving average is $11.16 and its 200 day simple moving average is $11.82. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.23 billion, a PE ratio of -6.10 and a beta of 3.12.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. The business had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. As a group, research analysts anticipate that Redwire will post -0.70 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 929,435 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total value of $10,539,792.90. Following the completion of the sale, the director directly owned 147,984 shares in the company, valued at $1,678,138.56. The trade was a 86.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Parvin Asset Management LLC lifted its holdings in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after buying an additional 1,150 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Redwire by 70.4% in the third quarter. GAMMA Investing LLC now owns 3,213 shares of the company’s stock valued at $34,000 after acquiring an additional 1,327 shares during the period. Parallel Advisors LLC acquired a new position in shares of Redwire in the first quarter valued at about $28,000. KBC Group NV acquired a new position in shares of Redwire in the first quarter valued at about $29,000. Finally, IFP Advisors Inc grew its stake in shares of Redwire by 3,662.5% in the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after acquiring an additional 3,516 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Company Profile

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.