Redwire Corporation (NYSE:RDW) Given Average Recommendation of “Moderate Buy” by Brokerages

Redwire Corporation (NYSE:RDW) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.0714.

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group dropped their price target on Redwire from $21.00 to $17.50 and set a “buy” rating for the company in a research report on Monday, August 11th. Roth Capital reiterated a “buy” rating on shares of Redwire in a research report on Tuesday, June 24th. B. Riley lowered their price objective on Redwire from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective (down from $26.00) on shares of Redwire in a research report on Friday, August 8th. Finally, Wall Street Zen lowered Redwire from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th.

Redwire Price Performance

RDW stock opened at $9.23 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.11. The business has a 50 day simple moving average of $11.04 and a 200-day simple moving average of $12.24. The firm has a market capitalization of $1.33 billion, a PE ratio of -2.84 and a beta of 2.49. Redwire has a 1 year low of $6.32 and a 1 year high of $26.66.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). The company had revenue of $61.76 million during the quarter, compared to analysts’ expectations of $80.48 million. Redwire had a negative net margin of 71.95% and a negative return on equity of 32.67%. Equities research analysts anticipate that Redwire will post -0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. KLP Kapitalforvaltning AS purchased a new stake in shares of Redwire during the 1st quarter worth approximately $42,000. FNY Investment Advisers LLC purchased a new position in shares of Redwire during the 1st quarter worth $47,000. GAMMA Investing LLC lifted its stake in shares of Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company’s stock worth $52,000 after purchasing an additional 6,217 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Redwire during the 2nd quarter worth $54,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Redwire by 1,172.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company’s stock worth $67,000 after purchasing an additional 7,469 shares during the period. Institutional investors and hedge funds 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.