Redwire Corporation (NYSE:RDW) Receives $14.44 Consensus Price Target from Brokerages

Redwire Corporation (NYSE:RDW) has received an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $14.4375.

RDW has been the topic of a number of research reports. Canaccord Genuity Group lifted their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a research note on Sunday, August 9th. Cantor Fitzgerald raised their price objective on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, August 6th.

Redwire Stock Performance

Shares of RDW stock opened at $11.99 on Friday. The stock has a fifty day moving average of $11.19 and a 200 day moving average of $11.39. Redwire has a 52 week low of $4.87 and a 52 week high of $26.64. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -8.21 and a beta of 3.05. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The business had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. As a group, research analysts expect that Redwire will post -0.68 earnings per share for the current year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is 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 the company. AQR Capital Management LLC boosted its holdings in shares of Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after buying an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after acquiring an additional 276,814 shares in the last quarter. Strs Ohio bought a new position in shares of Redwire in the 1st quarter worth about $69,000. Rhumbline Advisers boosted its stake in Redwire by 61.0% during the second quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after acquiring an additional 21,417 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Redwire by 57.6% during the second quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after acquiring an additional 7,750 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.