Redwire (NYSE:RDW) Price Target Raised to $15.00

Redwire (NYSE:RDW) had its target price raised by equities researchers at Canaccord Genuity Group from $14.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 10.60% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Thursday. Cantor Fitzgerald raised their price objective on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Redwire has an average rating of “Hold” and a consensus price target of $14.44.

Redwire Trading Down 0.2%

NYSE:RDW opened at $13.56 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Redwire has a 12 month low of $4.87 and a 12 month high of $26.64. The company has a market cap of $3.24 billion, a PE ratio of -9.29 and a beta of 3.05. The company has a 50 day simple moving average of $12.22 and a two-hundred day simple moving average of $11.32.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 12.65% and a negative net margin of 57.26%.The firm had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Research analysts forecast that Redwire will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the sale, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in shares of Redwire by 4.4% during the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after buying an additional 877 shares in the last quarter. Parvin Asset Management LLC increased its holdings in Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after acquiring an additional 1,150 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Redwire by 32.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after acquiring an additional 1,533 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Redwire by 12.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock worth $495,000 after acquiring an additional 3,248 shares during the period. Finally, Parallel Advisors LLC bought a new stake in Redwire during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.