Redwire Co. (NYSE:RDW) Receives $7.65 Average PT from Brokerages

Redwire Co. (NYSE:RDW) has earned an average recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $7.65.

A number of equities analysts have recently issued reports on RDW shares. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research note on Monday. Finally, Alliance Global Partners lifted their price target 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.

Redwire Trading Up 2.1 %

RDW stock opened at $6.37 on Tuesday. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23. The stock has a market cap of $417.74 million, a price-to-earnings ratio of -8.67 and a beta of 1.96. The company’s 50 day moving average is $6.60 and its 200 day moving average is $5.28.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The firm had revenue of $78.11 million for the quarter, compared to analysts’ expectations of $66.86 million. As a group, sell-side analysts forecast that Redwire will post -0.87 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 24,883 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $7.10, for a total transaction of $176,669.30. Following the completion of the sale, the director now owns 35,708,528 shares of the company’s stock, valued at approximately $253,530,548.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 238,732 shares of company stock worth $1,836,940. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in 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 buying an additional 3,681 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Redwire by 496.1% in 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 in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Redwire by 59.4% in the 2nd quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after purchasing an additional 26,543 shares during the period. DNB Asset Management AS boosted its position 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 purchasing an additional 7,538 shares in the last quarter. Finally, LJI Wealth Management LLC purchased a new stake in Redwire in the second quarter worth $258,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Redwire

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.