Redwire Co. (NYSE:RDW) Receives $7.65 Consensus Target Price from Analysts

Redwire Co. (NYSE:RDW) has received an average rating of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.65.

RDW has been the subject of a number of recent analyst reports. Roth Mkm raised their price objective on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Alliance Global Partners lifted their price target on shares of Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price target on shares of Redwire in a report on Friday, August 9th. Finally, Longbow Research upped their price objective on Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 10th.

Insider Buying and Selling

In related 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 shares were sold at an average price of $7.88, for a total value of $745,282.52. Following the sale, the director now directly owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 238,732 shares of company stock valued at $1,836,940 over the last three months. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently modified their holdings of RDW. SG Americas Securities LLC boosted its position in shares of Redwire by 17.2% in the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after purchasing an additional 2,296 shares during the period. Vanguard Group Inc. increased its position 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 worth $4,912,000 after acquiring an additional 3,681 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of Redwire by 23.9% during 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 during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire in the 2nd quarter valued at approximately $74,000. Finally, AQR Capital Management LLC acquired a new position in Redwire in the 2nd quarter worth approximately $89,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Redwire Price Performance

NYSE:RDW opened at $6.48 on Friday. The business’s 50-day moving average is $6.60 and its two-hundred day moving average is $4.93. The firm has a market capitalization of $424.62 million, a PE ratio of -8.99 and a beta of 1.97. Redwire has a 12 month low of $2.35 and a 12 month high of $8.23.

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.