Redwire Corporation (NYSE:RDW) Receives Consensus Rating of “Moderate Buy” from Brokerages

Redwire Corporation (NYSE:RDW) has been given an average rating of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $17.2143.

Several brokerages have weighed in on RDW. Truist Financial reduced their price objective on Redwire from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday. Roth Capital reissued a “buy” rating on shares of Redwire in a research note on Tuesday, June 24th. Wall Street Zen cut Redwire from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Canaccord Genuity Group reduced their price objective on Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price objective (down from $26.00) on shares of Redwire in a research note on Friday, August 8th.

Insider Activity at Redwire

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. AE Industrial Partners LP grew its stake in shares of Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after buying an additional 49,765,262 shares during the last quarter. Voya Investment Management LLC bought a new position in Redwire in the third quarter worth approximately $20,372,000. Hood River Capital Management LLC bought a new position in Redwire in the second quarter worth approximately $36,206,000. Cooper Creek Partners Management LLC bought a new position in Redwire in the second quarter worth approximately $32,652,000. Finally, Geode Capital Management LLC grew its stake in Redwire by 77.1% in the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after purchasing an additional 407,131 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

NYSE:RDW opened at $7.96 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.15 billion, a P/E ratio of -2.45 and a beta of 2.47. Redwire has a 12 month low of $6.61 and a 12 month high of $26.66. The business’s 50-day moving average is $8.98 and its 200 day moving average is $12.13.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.28). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%.The company had revenue of $61.76 million for the quarter, compared to the consensus estimate of $80.48 million. On average, equities research analysts forecast that Redwire will post -0.85 earnings per share for the current fiscal year.

About Redwire

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.