B. Riley Cuts Redwire (NYSE:RDW) Price Target to $25.00

Redwire (NYSE:RDW) had its price objective reduced by B. Riley from $27.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price objective would suggest a potential upside of 144.26% from the company’s current price.

Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Redwire in a research note on Wednesday. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price target on shares of Redwire in a report on Tuesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Stock Performance

NYSE RDW traded down $0.08 during trading hours on Wednesday, hitting $10.24. 1,617,481 shares of the company traded hands, compared to its average volume of 796,455. The stock has a market capitalization of $681.05 million, a price-to-earnings ratio of -8.51 and a beta of 2.33. Redwire has a twelve month low of $3.01 and a twelve month high of $26.66. The business’s 50-day moving average is $18.33 and its 200-day moving average is $12.69.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the transaction, the insider now owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently modified their holdings of RDW. Penserra Capital Management LLC grew its stake in shares of Redwire by 16.5% during the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after buying an additional 10,558 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. Stifel Financial Corp acquired a new stake in Redwire in the third quarter valued at $139,000. State Street Corp raised its position in Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after purchasing an additional 35,519 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after buying an additional 422,854 shares during the period. 8.10% of the stock is currently owned by 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.