Redwire (NYSE:RDW) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Redwire (NYSE:RDW) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $18.00 price target on the stock. HC Wainwright also issued estimates for Redwire’s Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.83) EPS and FY2025 earnings at ($0.17) EPS.

Several other research firms have also recently weighed in on RDW. Roth Mkm lifted their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price target on shares of Redwire in a research note on Monday, September 30th. Alliance Global Partners boosted their price target on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.13.

Redwire Stock Down 2.1 %

RDW opened at $13.49 on Tuesday. The company has a fifty day simple moving average of $8.89 and a 200 day simple moving average of $7.14. The stock has a market cap of $897.64 million, a P/E ratio of -11.15 and a beta of 1.93. Redwire has a 12 month low of $2.49 and a 12 month high of $14.40.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Barclays PLC grew its holdings in Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after purchasing an additional 422,854 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Redwire in the third quarter valued at approximately $623,000. Bank of New York Mellon Corp boosted its stake in shares of Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after acquiring an additional 59,372 shares during the period. LJI Wealth Management LLC acquired a new position in shares of Redwire during the 2nd quarter worth approximately $258,000. Finally, State Street Corp raised its holdings in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after acquiring an additional 35,519 shares during the period. 8.10% of the stock is owned by institutional investors.

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.