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

Redwire (NYSE:RDW)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $6.00 target price on the stock. Cantor Fitzgerald’s price target points to a potential downside of 15.25% from the stock’s previous close.

Several other brokerages also recently commented on RDW. Alliance Global Partners increased 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. B. Riley raised 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $7.65.

Redwire Trading Down 0.8 %

RDW traded down $0.06 on Monday, reaching $7.08. The company had a trading volume of 45,795 shares, compared to its average volume of 321,615. The company has a fifty day moving average of $6.42 and a 200-day moving average of $5.58. The company has a market capitalization of $464.30 million, a P/E ratio of -9.94 and a beta of 1.96. Redwire has a one year low of $2.35 and a one year high of $8.23.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to the consensus estimate of $66.86 million. Research analysts predict that Redwire will post -0.87 EPS for the current year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the transaction, the director now owns 35,923,576 shares in the company, valued at $283,077,778.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 238,732 shares of company stock worth $1,836,940. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Redwire by 17.2% during the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after buying an additional 2,296 shares in the last quarter. Vanguard Group Inc. increased its stake in Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares during the last quarter. DNB Asset Management AS increased its position in shares of Redwire by 23.9% during 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 during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Redwire during the 2nd quarter valued at about $74,000. Finally, AQR Capital Management LLC bought a new position in Redwire during the 2nd quarter worth approximately $89,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.