Cantor Fitzgerald Cuts Redwire (NYSE:RDW) Price Target to $20.00

Redwire (NYSE:RDW) had its price objective decreased by research analysts at Cantor Fitzgerald from $28.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 176.09% from the company’s current price.

Several other analysts have also issued reports on the company. Truist Financial cut their target price on Redwire from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Canaccord Genuity Group lowered their price target on shares of Redwire from $21.00 to $17.50 and set a “buy” rating for the company in a research note on Monday, August 11th. B. Riley lowered their price target on shares of Redwire from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 8th. HC Wainwright reissued a “buy” rating and issued a $22.00 price target (down from $26.00) on shares of Redwire in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Redwire from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.07.

Redwire Price Performance

Shares of RDW traded up $0.29 during mid-day trading on Wednesday, reaching $7.24. 2,060,459 shares of the stock traded hands, compared to its average volume of 3,822,570. The firm has a fifty day moving average price of $8.68 and a 200 day moving average price of $12.06. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -2.22 and a beta of 2.45. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. Redwire has a 1 year low of $6.61 and a 1 year high of $26.66.

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

Insider Transactions at Redwire

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

Institutional investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC bought a new position in Redwire in the second quarter worth about $54,000. KLP Kapitalforvaltning AS purchased a new stake in Redwire in the first quarter worth about $42,000. Tower Research Capital LLC TRC grew its holdings in Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in Redwire by 71.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,724 shares of the company’s stock worth $126,000 after purchasing an additional 3,213 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Redwire by 656.7% in the first quarter. New York State Common Retirement Fund now owns 8,066 shares of the company’s stock worth $67,000 after purchasing an additional 7,000 shares during the period. 8.10% of the stock is owned by institutional investors.

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.