Redwire Co. (NYSE:RDW) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Redwire Co. (NYSE:RDW) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $17.71.

Several equities research analysts recently weighed in on the company. B. Riley decreased their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Redwire in a research note on Wednesday. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of Redwire in a research report on Tuesday.

Insiders Place Their Bets

In other news, major shareholder Park Lp Genesis II sold 10,115 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the transaction, the insider now owns 3,644,566 shares of the company’s stock, valued at approximately $87,870,486.26. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 684,454 shares of company stock valued at $13,682,993 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Redwire in the fourth quarter valued at approximately $33,000. Summit Investment Advisors Inc. increased its holdings in shares of Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after purchasing an additional 931 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Redwire in the fourth quarter valued at approximately $63,000. Jones Financial Companies Lllp boosted its stake in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Stock Down 3.2 %

RDW stock opened at $9.98 on Thursday. The business has a 50 day moving average price of $18.20 and a 200 day moving average price of $12.67. The stock has a market cap of $663.75 million, a price-to-earnings ratio of -8.24 and a beta of 2.33. Redwire has a fifty-two week low of $3.15 and a fifty-two week high of $26.66.

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.