Redwire Co. (NYSE:RDW) Receives Consensus Rating of “Moderate Buy” from Analysts

Redwire Co. (NYSE:RDW) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $10.13.

RDW has been the subject of several research reports. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and upped their price target for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. Roth Mkm boosted their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Redwire in a report on Wednesday, December 11th.

Redwire Price Performance

RDW stock opened at $17.12 on Friday. Redwire has a 1 year low of $2.68 and a 1 year high of $17.86. The company has a market cap of $1.14 billion, a P/E ratio of -14.15 and a beta of 2.25. The stock’s fifty day moving average price is $11.52 and its 200-day moving average price is $8.38.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC raised its holdings in Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares during the period. Geode Capital Management LLC grew its position in shares of Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after purchasing an additional 30,963 shares in the last quarter. State Street Corp raised its stake in Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Redwire in the 3rd quarter worth approximately $623,000. Finally, Penserra Capital Management LLC grew its holdings in Redwire by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after buying an additional 10,558 shares in the last quarter. 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.