Redwire (NYSE:RDW) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Redwire (NYSE:RDW) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $6.00 price objective on the stock.

A number of other brokerages have also commented on RDW. B. Riley raised shares of Redwire from a neutral rating to a buy rating and set a $8.00 price target on the stock in a report on Friday, August 9th. Alliance Global Partners increased their price target on shares of Redwire from $7.00 to $8.25 and gave the stock a buy rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Redwire presently has a consensus rating of Buy and an average price target of $7.65.

Redwire Trading Up 5.9 %

Redwire stock opened at $6.79 on Monday. The firm’s 50 day simple moving average is $6.41 and its 200 day simple moving average is $5.63. The firm has a market capitalization of $444.95 million, a PE ratio of -9.40 and a beta of 1.96. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23.

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

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $7.88, for a total transaction of $745,282.52. Following the transaction, the director now owns 35,923,576 shares of the company’s stock, valued at approximately $283,077,778.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 238,732 shares of company stock valued at $1,836,940. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Redwire during the 1st quarter valued at $59,000. The Manufacturers Life Insurance Company purchased a new stake in Redwire during the 2nd quarter valued at $74,000. AQR Capital Management LLC purchased a new stake in Redwire during the 2nd quarter valued at $89,000. Rhumbline Advisers boosted its position in Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after buying an additional 12,703 shares during the period. Finally, LJI Wealth Management LLC purchased a new stake in Redwire during the 2nd quarter valued at $258,000. 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.