Redwire (NYSE:RDW) Earns “Overweight” Rating from Cantor Fitzgerald

Redwire (NYSE:RDW)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $6.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 3.63% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Friday. Alliance Global Partners lifted their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Longbow Research lifted their target price on Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Roth Mkm lifted their target price on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $7.65.

Redwire Stock Up 12.2 %

RDW stock traded up $0.63 during midday trading on Friday, reaching $5.79. 199,638 shares of the company’s stock traded hands, compared to its average volume of 327,802. The company has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $4.70. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23. The company has a market cap of $379.70 million, a price-to-earnings ratio of -8.04 and a beta of 1.97.

Redwire (NYSE:RDW) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $65.88 million. Equities research analysts forecast that Redwire will post -0.48 EPS for the current year.

Insider Activity

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $7.88, for a total transaction of $745,282.52. Following the transaction, the director now owns 35,923,576 shares of the company’s stock, valued at $283,077,778.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 238,732 shares of company stock worth $1,836,940 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several institutional investors and hedge funds have recently made changes to their positions in RDW. Bank of New York Mellon Corp grew its position in shares of 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 purchasing an additional 59,372 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Redwire in the first quarter valued at approximately $59,000. Rhumbline Advisers boosted its stake in shares of 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 buying an additional 12,703 shares during the period. DNB Asset Management AS boosted its stake in shares of 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 buying an additional 7,538 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Redwire by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after buying an additional 3,681 shares during the period. Institutional investors and hedge funds 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.