Cantor Fitzgerald Reiterates Overweight Rating for Redwire (NYSE:RDW)

Redwire (NYSE:RDW)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $6.00 price objective on the stock. Cantor Fitzgerald’s price target points to a potential downside of 6.10% from the stock’s current price.

RDW has been the topic of several other research reports. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Friday, August 9th. Alliance Global Partners raised their target price on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $7.65.

Redwire Trading Down 1.7 %

Shares of RDW stock opened at $6.39 on Monday. The firm has a market capitalization of $419.05 million, a P/E ratio of -8.88 and a beta of 1.96. Redwire has a 1 year low of $2.35 and a 1 year high of $8.23. The firm’s fifty day simple moving average is $6.44 and its 200 day simple moving average is $5.50.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share (EPS) 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 research analysts anticipate that Redwire will post -0.87 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 24,883 shares of Redwire stock in a transaction on Friday, July 19th. The stock was sold at an average price of $7.10, for a total transaction of $176,669.30. Following the completion of the transaction, the director now directly owns 35,708,528 shares of the company’s stock, valued at $253,530,548.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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

A number of institutional investors have recently modified their holdings of RDW. SG Americas Securities LLC bought a new position in Redwire in the 1st quarter valued at $59,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire in the second quarter valued at $74,000. AQR Capital Management LLC bought a new position in shares of Redwire in the second quarter valued at about $89,000. Rhumbline Advisers lifted its position in Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after buying an additional 12,703 shares in the last quarter. Finally, LJI Wealth Management LLC bought a new stake in Redwire during the 2nd quarter worth about $258,000. Institutional investors own 8.10% of the company’s stock.

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.