Jefferies Financial Group Has Lowered Expectations for Redwire (NYSE:RDW) Stock Price

Redwire (NYSE:RDW) had its price target lowered by equities researchers at Jefferies Financial Group from $13.00 to $12.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 41.01% from the company’s current price.

Several other research analysts have also weighed in on the company. iA Financial set a $9.00 price target on Redwire in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Cantor Fitzgerald lowered their price target on Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Canaccord Genuity Group upped their price objective on Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Redwire in a research note on Tuesday, December 23rd. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Redwire presently has an average rating of “Hold” and an average price target of $13.67.

Redwire Stock Down 6.2%

RDW stock traded down $0.56 during midday trading on Friday, hitting $8.51. The company’s stock had a trading volume of 15,653,456 shares, compared to its average volume of 26,721,869. The company’s fifty day moving average price is $9.78 and its 200 day moving average price is $8.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.05. Redwire has a twelve month low of $4.87 and a twelve month high of $22.25. The stock has a market capitalization of $1.41 billion, a P/E ratio of -3.59 and a beta of 2.50.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.19). The company had revenue of $108.79 million during the quarter, compared to the consensus estimate of $98.78 million. Redwire had a negative net margin of 67.55% and a negative return on equity of 13.04%. As a group, equities research analysts predict that Redwire will post -0.85 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the transaction, the director owned 61,541,253 shares in the company, valued at $646,798,569.03. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 40,400,346 shares of company stock valued at $453,127,301. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after purchasing an additional 28,576 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after buying an additional 276,814 shares in the last quarter. Strs Ohio bought a new stake in shares of Redwire during the 1st quarter worth approximately $69,000. Andar Capital Management HK Ltd bought a new stake in shares of Redwire during the 2nd quarter worth approximately $2,771,000. Finally, Geode Capital Management LLC boosted its position in shares of Redwire by 77.1% during the 2nd quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after acquiring an additional 407,131 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

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.