Cantor Fitzgerald Reaffirms “Overweight” Rating for Redwire (NYSE:RDW)

Cantor Fitzgerald reissued their overweight rating on shares of Redwire (NYSE:RDW) in a report issued on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $6.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. B. Riley upgraded shares of Redwire from a neutral rating to a buy rating and set a $8.00 price objective for the company in a research note on Friday, August 9th. Longbow Research raised their price target on Redwire from $5.00 to $6.00 and gave the company a buy rating in a research note on Friday, May 10th. Alliance Global Partners upped their price objective on Redwire from $7.00 to $8.25 and gave the stock a buy rating in a research note on Tuesday, July 30th. Finally, Roth Mkm raised their target price on shares of Redwire from $5.00 to $10.00 and gave the company a buy rating in a research note on Friday, May 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Redwire has an average rating of Buy and a consensus target price of $7.65.

Redwire Price Performance

RDW stock opened at $6.07 on Tuesday. The business has a 50-day moving average of $6.70 and a 200-day moving average of $5.17. Redwire has a fifty-two week low of $2.35 and a fifty-two week high of $8.23. The stock has a market capitalization of $398.06 million, a P/E ratio of -8.43 and a beta of 1.97.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The firm had revenue of $78.11 million for the quarter, compared to the consensus estimate of $66.86 million. Equities analysts expect that Redwire will post -0.87 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $7.88, for a total transaction of $745,282.52. Following the completion of the sale, the director now owns 35,923,576 shares of the company’s stock, valued at approximately $283,077,778.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 238,732 shares of company stock valued at $1,836,940. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Redwire

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new position in shares of Redwire during the second quarter worth approximately $74,000. AQR Capital Management LLC acquired a new position in Redwire in the 2nd quarter valued at $89,000. Squarepoint Ops LLC lifted its holdings in shares of Redwire by 59.4% during the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock worth $511,000 after buying an additional 26,543 shares in the last quarter. LJI Wealth Management LLC bought a new stake in shares of Redwire in the second quarter valued at about $258,000. Finally, Rhumbline Advisers grew its stake in shares of Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after acquiring an additional 12,703 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

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.