Redwire Co. (NYSE:RDW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Redwire Co. (NYSE:RDW) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.00.

Several research analysts have issued reports on RDW shares. Roth Mkm upped their price objective on Redwire from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Longbow Research upped their target price on shares of Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 10th. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and upped their target price for the company from $6.00 to $8.00 in a research report on Monday, July 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of Redwire in a research report on Monday, July 22nd.

Redwire Stock Performance

NYSE:RDW opened at $7.24 on Monday. The stock’s fifty day moving average price is $6.27 and its two-hundred day moving average price is $4.51. Redwire has a 52-week low of $2.35 and a 52-week high of $8.23. The company has a market cap of $474.80 million, a price-to-earnings ratio of -10.06 and a beta of 1.97.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $87.79 million during the quarter, compared to analysts’ expectations of $65.88 million. On average, equities analysts predict that Redwire will post -0.48 EPS for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $7.88, for a total value of $745,282.52. Following the completion of the sale, the director now owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 238,732 shares of company stock worth $1,836,940 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after buying an additional 59,372 shares in the last quarter. SG Americas Securities LLC boosted its stake in Redwire by 17.2% in the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after purchasing an additional 2,296 shares during the period. DNB Asset Management AS boosted its stake in Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after purchasing an additional 7,538 shares during the period. Vanguard Group Inc. boosted its stake in Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after purchasing an additional 3,681 shares during the period. Finally, LA Financiere DE L Echiquier boosted its stake in Redwire by 10.6% in the 4th quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock worth $1,282,000 after purchasing an additional 43,000 shares during the period. 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.