Analysts Set Redwire Corporation (NYSE:RDW) Price Target at $12.50

Redwire Corporation (NYSE:RDW) has been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.50.

RDW has been the subject of several recent research reports. Cantor Fitzgerald lowered their price target on Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Truist Financial cut their target price on shares of Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Roth Capital restated a “buy” rating and set a $15.00 target price on shares of Redwire in a research report on Thursday, November 6th. Finally, Industrial Alliance Securities set a $9.00 price objective on Redwire in a research note on Thursday, November 6th.

Redwire Price Performance

RDW stock opened at $9.02 on Friday. The firm has a market capitalization of $1.49 billion, a PE ratio of -2.84 and a beta of 2.44. The firm has a 50-day moving average of $6.70 and a two-hundred day moving average of $9.88. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. Redwire has a one year low of $4.87 and a one year high of $26.66.

Insider Activity at Redwire

In other Redwire news, CEO Peter Anthony Cannito, Jr. purchased 32,155 shares of the stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $6.21 per share, with a total value of $199,682.55. Following the completion of the transaction, the chief executive officer directly owned 526,728 shares in the company, valued at $3,270,980.88. This represents a 6.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron Michael Futch purchased 18,410 shares of Redwire stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average price of $5.45 per share, with a total value of $100,334.50. Following the completion of the purchase, the executive vice president directly owned 88,704 shares in the company, valued at $483,436.80. This trade represents a 26.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 56,065 shares of company stock valued at $330,047. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RDW. Goldman Sachs Group Inc. boosted its position in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after purchasing an additional 276,814 shares during the period. AE Industrial Partners LP boosted its stake in shares of Redwire by 139.3% during the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after acquiring an additional 49,765,262 shares in the last quarter. Canal Insurance CO acquired a new stake in shares of Redwire during the second quarter valued at approximately $3,260,000. Voya Investment Management LLC purchased a new stake in shares of Redwire in the third quarter worth approximately $20,372,000. Finally, Geode Capital Management LLC grew its position in Redwire by 77.1% in the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after acquiring an additional 407,131 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.