Analysts Set Redwire Corporation (NYSE:RDW) Target Price at $15.44

Redwire Corporation (NYSE:RDW) has been given an average rating of “Moderate Buy” by the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $15.4444.

A number of research analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Wall Street Zen lowered Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Jefferies Financial Group raised Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Truist Financial upgraded Redwire to a “strong-buy” rating in a research report on Friday, May 1st.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Bank of America Corp DE lifted its holdings in Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after purchasing an additional 6,730,414 shares in the last quarter. State Street Corp increased its stake in shares of Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Redwire by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after purchasing an additional 91,045 shares during the last quarter. UBS Group AG raised its position in shares of Redwire by 140.8% during the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Redwire by 46.9% in the 4th quarter. Geode Capital Management LLC now owns 1,764,643 shares of the company’s stock valued at $13,413,000 after buying an additional 563,259 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

NYSE:RDW opened at $9.27 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -3.46 and a beta of 3.01. The company has a 50 day moving average price of $14.14 and a 200-day moving average price of $11.40. Redwire has a 1-year low of $4.87 and a 1-year high of $26.64.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business’s quarterly revenue was up 57.9% on a year-over-year basis. During the same period last year, the company posted ($0.09) earnings per share. Equities research analysts forecast that Redwire will post -0.81 EPS for the current year.

About Redwire

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.