Redwire (NYSE:RDW) Stock Rating Upgraded by Zacks Research

Redwire (NYSE:RDW) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Roth Mkm restated a “buy” rating and issued a $20.00 target price on shares of Redwire in a report on Wednesday, January 28th. Truist Financial raised Redwire from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $15.00 in a research report on Monday. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Redwire in a report on Tuesday, December 23rd. Canaccord Genuity Group raised their target price on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, KeyCorp started coverage on shares of Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating on the stock. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Redwire has a consensus rating of “Moderate Buy” and an average price target of $13.89.

Redwire Stock Performance

Shares of RDW opened at $9.49 on Wednesday. The company’s 50 day moving average price is $9.96 and its 200 day moving average price is $8.49. The company has a market capitalization of $1.57 billion, a PE ratio of -4.00 and a beta of 2.50. Redwire has a 52 week low of $4.87 and a 52 week high of $22.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.62.

Redwire (NYSE:RDW) last released its quarterly earnings results 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). Redwire had a negative net margin of 67.55% and a negative return on equity of 13.04%. The company had revenue of $108.79 million for the quarter, compared to analysts’ expectations of $98.78 million. Research analysts expect that Redwire will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 49,985 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $10.01, for a total transaction of $500,349.85. Following the completion of the sale, the director directly owned 45,094,000 shares in the company, valued at $451,390,940. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 40,400,346 shares of company stock worth $453,127,301. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its holdings in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the period. CWM LLC grew its holdings in Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Redwire during the 3rd quarter valued at about $41,000. Russell Investments Group Ltd. raised its position in Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.