Redwire Corporation (NYSE:RDW) Stock Rated “Hold” by Sell-Side Analysts

Redwire Corporation (NYSE:RDW) has been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.69.

A number of equities research analysts have issued reports on RDW shares. Cantor Fitzgerald upped their target price on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a research report on Sunday, August 9th. Bank of America boosted their price objective on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Guggenheim assumed coverage on shares of Redwire in a research note on Monday, September 14th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 929,435 shares of Redwire stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total value of $10,539,792.90. Following the transaction, the director owned 147,984 shares in the company, valued at $1,678,138.56. This trade represents a 86.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Redwire by 70.4% in the third quarter. GAMMA Investing LLC now owns 3,213 shares of the company’s stock valued at $34,000 after purchasing an additional 1,327 shares during the last quarter. Bouchey Financial Group Ltd. bought a new position in shares of Redwire in the second quarter worth about $141,000. Tidal Investments LLC acquired a new position in shares of Redwire during the 2nd quarter worth about $7,717,000. Integrated Wealth Concepts LLC acquired a new position in shares of Redwire during the 2nd quarter worth about $635,000. Finally, IFP Advisors Inc lifted its position in shares of Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after purchasing an additional 3,516 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

Redwire Price Performance

Shares of NYSE:RDW opened at $9.58 on Friday. Redwire has a fifty-two week low of $4.87 and a fifty-two week high of $26.64. The business has a 50-day moving average of $11.30 and a two-hundred day moving average of $11.80. The stock has a market capitalization of $2.40 billion, a P/E ratio of -6.56 and a beta of 3.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. The company had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. On average, equities research analysts predict that Redwire will post -0.70 EPS for the current fiscal year.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.