Redwire Co. (NYSE:RDW) Receives Consensus Rating of “Buy” from Brokerages

Redwire Co. (NYSE:RDW) has been assigned a consensus recommendation of “Buy” from the five analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.65.

Several research analysts have commented on RDW shares. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 target price on shares of Redwire in a research note on Monday, September 9th. Alliance Global Partners boosted their target price on shares of Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Friday, August 9th.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 56,516 shares of Redwire stock in a transaction on Friday, July 12th. The shares were sold at an average price of $7.64, for a total transaction of $431,782.24. Following the transaction, the director now owns 36,018,155 shares in the company, valued at $275,178,704.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 238,732 shares of company stock worth $1,836,940. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Redwire by 17.2% during the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after purchasing an additional 2,296 shares during the last quarter. Vanguard Group Inc. raised its stake in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after buying an additional 3,681 shares during the last quarter. DNB Asset Management AS raised its stake in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after buying an additional 7,538 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Redwire in the second quarter valued at $74,000. Finally, AQR Capital Management LLC bought a new stake in Redwire during the second quarter valued at $89,000. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Price Performance

Shares of RDW opened at $6.44 on Tuesday. The firm has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $5.36. Redwire has a one year low of $2.35 and a one year high of $8.23. The company has a market cap of $422.33 million, a P/E ratio of -8.94 and a beta of 1.96.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The firm had revenue of $78.11 million during the quarter, compared to the consensus estimate of $66.86 million. On average, analysts expect that Redwire will post -0.87 earnings per share for the current fiscal year.

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.