Redwire Corporation (NYSE:RDW) Stock Has Consensus Target Price of $14.28

Redwire Corporation (NYSE:RDW) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $14.28.

RDW has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, August 31st. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Thursday, October 15th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Finally, Piper Sandler assumed coverage on shares of Redwire in a research note on Thursday, October 15th. They issued a “neutral” rating and a $11.00 target price on the stock.

Redwire Stock Performance

Shares of RDW opened at $8.35 on Thursday. The stock’s 50-day simple moving average is $10.21 and its 200 day simple moving average is $11.09. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -5.72 and a beta of 3.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. Redwire has a 52-week low of $4.87 and a 52-week high of $26.64.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. Research analysts forecast that Redwire will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total value of $10,539,792.90. Following the transaction, the director owned 147,984 shares of the company’s stock, valued at approximately $1,678,138.56. This represents a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several large investors have recently added to or reduced their stakes in the business. Integrity Alliance LLC. bought a new position in shares of Redwire in the third quarter worth approximately $173,000. IPG Investment Advisors LLC bought a new stake in Redwire during the third quarter valued at approximately $139,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Redwire during the third quarter valued at approximately $126,591,000. ProShare Advisors LLC grew its stake in Redwire by 15.1% in the 3rd quarter. ProShare Advisors LLC now owns 29,528 shares of the company’s stock worth $308,000 after buying an additional 3,867 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Redwire in the 3rd quarter worth approximately $356,000. Institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation (NYSE: RDW) is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its capabilities support spacecraft, space stations, national security missions, and other applications across the space economy.

The company’s offerings include deployable solar arrays, spacecraft platforms, avionics, sensors, communications systems, digital engineering and mission-support services. Redwire also develops robotic systems, in-space manufacturing technologies, payloads, and other solutions designed to enable spacecraft operations and the production of materials in orbit.

Redwire was formed in 2020 through the combination of several space technology businesses backed by AE Industrial Partners and became a publicly traded company in 2021.