Redwire Corporation (NYSE:RDW) Receives $20.05 Consensus Price Target from Analysts

Redwire Corporation (NYSE:RDW) has been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.05.

Several equities analysts have recently issued reports on the company. B. Riley decreased their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th. Wall Street Zen cut shares of Redwire from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of Redwire in a research note on Wednesday, March 12th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Monday, May 12th.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Redwire by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after purchasing an additional 532 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Redwire by 7.8% in the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock worth $179,000 after purchasing an additional 782 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Redwire by 64.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after purchasing an additional 931 shares in the last quarter. Gabelli Funds LLC increased its holdings in Redwire by 7.4% in the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company’s stock worth $156,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Trading Down 4.1%

NYSE RDW opened at $15.93 on Monday. The stock’s 50 day moving average is $13.45 and its two-hundred day moving average is $14.56. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -7.05 and a beta of 2.53. Redwire has a 1-year low of $4.87 and a 1-year high of $26.66.

Redwire (NYSE:RDW) last announced its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $61.40 million during the quarter, compared to analyst estimates of $74.54 million. On average, analysts predict that Redwire will post -0.85 earnings per share for the current year.

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.