Redwire (NYSE:RDW) Price Target Raised to $8.25

Redwire (NYSE:RDW) had its price objective increased by Alliance Global Partners from $7.00 to $8.25 in a research report report published on Tuesday, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. B. Riley downgraded shares of Redwire from a buy rating to a neutral rating and lifted their price target for the stock from $6.00 to $8.00 in a research note on Monday, July 22nd. Cantor Fitzgerald reissued an overweight rating and set a $6.00 price target on shares of Redwire in a research note on Monday, July 22nd. Roth Mkm lifted their price target on shares of Redwire from $5.00 to $10.00 and gave the stock a buy rating in a research note on Friday, May 10th. Finally, Longbow Research lifted their price target on shares of Redwire from $5.00 to $6.00 and gave the stock a buy rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $7.65.

Redwire Price Performance

Shares of RDW opened at $6.27 on Tuesday. The firm’s 50 day simple moving average is $6.46 and its 200 day simple moving average is $4.62. The company has a market capitalization of $411.19 million, a P/E ratio of -8.71 and a beta of 1.97. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, May 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The company had revenue of $87.79 million for the quarter, compared to analyst estimates of $65.88 million. On average, equities analysts anticipate that Redwire will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 24,883 shares of Redwire stock in a transaction on Friday, July 19th. The shares were sold at an average price of $7.10, for a total value of $176,669.30. Following the transaction, the director now directly owns 35,708,528 shares of the company’s stock, valued at $253,530,548.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 238,732 shares of company stock valued at $1,836,940 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Trading of Redwire

Several large investors have recently added to or reduced their stakes in RDW. Bank of New York Mellon Corp boosted its holdings in Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after acquiring an additional 59,372 shares in the last quarter. LA Financiere DE L Echiquier boosted its holdings in Redwire by 10.6% in the fourth quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock valued at $1,282,000 after acquiring an additional 43,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in Redwire in the first quarter valued at $59,000. Rhumbline Advisers boosted its holdings in Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after acquiring an additional 12,703 shares in the last quarter. Finally, DNB Asset Management AS boosted its holdings in Redwire by 23.9% in the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after acquiring an additional 7,538 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.