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

Redwire Co. (NYSE:RDW) has been assigned an average recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.65.

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research report on Monday, September 9th. Alliance Global Partners boosted their price objective on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Friday, August 9th.

Redwire Stock Down 0.8 %

Shares of RDW stock opened at $6.44 on Tuesday. The firm has a 50 day moving average of $6.57 and a 200-day moving average of $5.36. The company has a market cap of $422.33 million, a price-to-earnings ratio of -8.94 and a beta of 1.96. Redwire has a 52 week low of $2.35 and a 52 week high of $8.23.

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

Insiders Place Their Bets

In other news, Director Ae Red Holdings, Llc sold 24,883 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $7.10, for a total value of $176,669.30. Following the transaction, the director now owns 35,708,528 shares in the company, valued at $253,530,548.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 238,732 shares of company stock valued at $1,836,940. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Redwire by 17.2% during the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after acquiring an additional 2,296 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Redwire by 0.3% during 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. DNB Asset Management AS boosted its holdings in shares of 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 buying an additional 7,538 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Redwire during the second quarter valued at about $74,000. Finally, AQR Capital Management LLC purchased a new stake in Redwire during the second quarter worth about $89,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.