Piper Sandler Upgrades Redwire (NYSE:RDW) to Hold

Redwire (NYSE:RDW) was upgraded by research analysts at Piper Sandler to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other brokerages also recently commented on RDW. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a report on Sunday, August 9th. Bank of America boosted their price objective on Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Guggenheim began coverage on Redwire in a research note on Monday, September 14th. They set a “neutral” rating on the stock. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.28.

Redwire Stock Performance

RDW stock opened at $8.90 on Thursday. Redwire has a 52 week low of $4.87 and a 52 week high of $26.64. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $11.16 and a two-hundred day simple moving average of $11.82.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The business had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Research analysts predict that Redwire will post -0.70 EPS for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of Redwire stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the completion of the transaction, the director directly owned 147,984 shares of the company’s stock, valued at $1,678,138.56. The trade was a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in RDW. GAMMA Investing LLC raised its stake in shares of Redwire by 70.4% in the third quarter. GAMMA Investing LLC now owns 3,213 shares of the company’s stock valued at $34,000 after acquiring an additional 1,327 shares during the period. Parallel Advisors LLC purchased a new position in shares of Redwire during the 1st quarter worth about $28,000. KBC Group NV purchased a new position in shares of Redwire during the 1st quarter worth about $29,000. IFP Advisors Inc grew its holdings in Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after purchasing an additional 3,516 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.