Redwire (NYSE:RDW) Raised to “Hold” at Zacks Research

Redwire (NYSE:RDW) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Redwire from $21.00 to $17.50 and set a “buy” rating for the company in a report on Monday, August 11th. Truist Financial lowered their target price on Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. Industrial Alliance Securities set a $9.00 price target on Redwire in a report on Thursday, November 6th. Bank of America dropped their price objective on shares of Redwire from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Friday, October 10th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price target (down from $26.00) on shares of Redwire in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.25.

Redwire Trading Down 3.5%

Shares of NYSE RDW traded down $0.22 during mid-day trading on Monday, reaching $5.92. The company had a trading volume of 2,896,843 shares, compared to its average volume of 3,930,898. The business’s 50-day moving average is $8.43 and its 200-day moving average is $11.92. The company has a current ratio of 1.41, a quick ratio of 1.11 and a debt-to-equity ratio of 0.20. Redwire has a 52 week low of $5.72 and a 52 week high of $26.66. The stock has a market cap of $852.00 million, a price-to-earnings ratio of -1.86 and a beta of 2.45.

Insider Transactions at Redwire

In other Redwire news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of Redwire stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $6.21 per share, with a total value of $199,682.55. Following the completion of the purchase, the chief executive officer owned 526,728 shares in the company, valued at $3,270,980.88. This represents a 6.50% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the business. AE Industrial Partners LP grew its stake in shares of Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after buying an additional 49,765,262 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Redwire in the third quarter valued at approximately $20,372,000. Hood River Capital Management LLC acquired a new position in Redwire in the 2nd quarter worth approximately $36,206,000. Cooper Creek Partners Management LLC purchased a new stake in Redwire in the 2nd quarter worth $32,652,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Redwire by 2,556.0% in the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock worth $5,190,000 after acquiring an additional 555,536 shares during the last quarter. Hedge funds and other 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.