Redwire’s (RDW) Overweight Rating Reiterated at Cantor Fitzgerald

Redwire (NYSE:RDW)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $6.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential downside of 7.55% from the stock’s current price.

A number of other equities research analysts have also commented 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 research report on Tuesday, July 30th. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $7.65.

Redwire Stock Down 2.1 %

Shares of RDW traded down $0.14 during mid-day trading on Monday, hitting $6.49. 48,260 shares of the company traded hands, compared to its average volume of 323,358. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23. The company has a market capitalization of $425.61 million, a PE ratio of -9.01 and a beta of 1.96. The business has a 50 day moving average of $6.49 and a 200 day moving average of $5.45.

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 company had revenue of $78.11 million during the quarter, compared to analysts’ expectations of $66.86 million. As a group, research analysts expect that Redwire will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of Redwire stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the completion of the transaction, the director now owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 238,732 shares of company stock valued at $1,836,940. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Redwire in the first quarter valued at approximately $59,000. Vanguard Group Inc. lifted its holdings in Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after purchasing an additional 3,681 shares in the last quarter. DNB Asset Management AS lifted its holdings in Redwire by 23.9% in the 2nd 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. Bank of New York Mellon Corp grew its holdings in shares of Redwire by 496.1% during 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. 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 valued at $232,000 after buying an additional 12,703 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other 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.