Redwire Corporation (NYSE:RDW) Given Average Rating of “Moderate Buy” by Analysts

Shares of Redwire Corporation (NYSE:RDW) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $15.4444.

A number of analysts have issued reports on the company. Canaccord Genuity Group raised their target price on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $10.57, for a total value of $33,244,837.99. Following the completion of the sale, the director owned 26,273,144 shares in the company, valued at $277,707,132.08. The trade was a 10.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 13,211,433 shares of company stock worth $147,576,208. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of large investors have recently added to or reduced their stakes in RDW. Bank of America Corp DE increased its holdings in shares of Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares during the period. State Street Corp raised its position in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after purchasing an additional 1,786,038 shares during the last quarter. UBS Group AG lifted its holdings in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after buying an additional 1,192,885 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Redwire in the 4th quarter worth approximately $7,676,000. Finally, Van ECK Associates Corp boosted its holdings in Redwire by 231.0% in the fourth quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock valued at $10,918,000 after acquiring an additional 1,002,504 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

Shares of NYSE RDW opened at $11.32 on Friday. The company has a market capitalization of $2.70 billion, a PE ratio of -4.22 and a beta of 3.01. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $14.33 and its 200-day moving average price is $11.17. Redwire has a twelve month low of $4.87 and a twelve month high of $26.64.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 57.9% compared to the same quarter last year. On average, equities analysts anticipate that Redwire will post -0.76 EPS for the current year.

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.