Research Analysts Set Expectations for Redwire Co.’s Q3 2024 Earnings (NYSE:RDW)

Redwire Co. (NYSE:RDW) – Equities researchers at B. Riley issued their Q3 2024 earnings per share estimates for shares of Redwire in a research report issued to clients and investors on Thursday, August 29th. B. Riley analyst M. Crawford anticipates that the company will post earnings of ($0.13) per share for the quarter. B. Riley has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for Redwire’s current full-year earnings is ($0.87) per share. B. Riley also issued estimates for Redwire’s Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.84) EPS, FY2025 earnings at ($0.30) EPS and FY2026 earnings at ($0.21) EPS.

Several other equities analysts have also issued reports on the company. Alliance Global Partners upped their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Roth Mkm upped their target price on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 10th. Longbow Research upped their price objective on Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Friday, August 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Redwire currently has an average rating of “Buy” and an average target price of $7.65.

Redwire Stock Up 1.2 %

RDW stock opened at $6.75 on Monday. The firm has a market cap of $442.66 million, a PE ratio of -9.38 and a beta of 1.97. The business has a 50 day moving average of $6.70 and a 200-day moving average of $5.11. Redwire has a 12-month low of $2.35 and a 12-month high of $8.23.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate 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.

Insider Activity at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of the stock in a transaction 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 sale, the director now owns 35,923,576 shares in the company, valued at $283,077,778.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 238,732 shares of company stock worth $1,836,940. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently made changes to their positions in RDW. Bank of New York Mellon Corp raised 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 worth $512,000 after buying an additional 59,372 shares in the last quarter. LJI Wealth Management LLC purchased a new stake in shares of Redwire in the second quarter worth $258,000. Squarepoint Ops LLC raised its position in shares of Redwire by 59.4% in the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock worth $511,000 after buying an additional 26,543 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Redwire in the first quarter worth $59,000. Finally, Rhumbline Advisers raised its position in shares of Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after buying an additional 12,703 shares in the last quarter. Hedge funds and other 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.