Cantor Fitzgerald Initiates Coverage on Redwire (NYSE:RDW)

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Redwire (NYSE:RDW) in a report released on Friday. The firm set an “overweight” rating and a $28.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 27.01% from the stock’s current price. Cantor Fitzgerald also issued estimates for Redwire’s FY2025 earnings at ($0.24) EPS.

A number of other research analysts have also recently commented on the company. Roth Mkm raised their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. 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. Finally, HC Wainwright boosted their target price on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.13.

Redwire Price Performance

RDW stock opened at $22.05 on Friday. Redwire has a 1 year low of $2.76 and a 1 year high of $23.35. The firm has a 50-day moving average of $14.33 and a 200 day moving average of $9.66. The company has a market cap of $1.47 billion, a P/E ratio of -18.22 and a beta of 2.17.

Insider Transactions at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the completion of the sale, the insider now directly owns 4,157,489 shares in the company, valued at approximately $81,528,359.29. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 417,656 shares of company stock valued at $7,663,352 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arkadios Wealth Advisors purchased a new position in Redwire in the 4th quarter worth approximately $165,000. Brookstone Capital Management bought a new stake in shares of Redwire in the 4th quarter worth $329,000. Geode Capital Management LLC raised its stake in shares of Redwire by 6.3% in 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 during the last quarter. Barclays PLC boosted its position in shares of 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 buying an additional 422,854 shares during the last quarter. Finally, State Street Corp increased its holdings in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after buying an additional 35,519 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.