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

Redwire (NYSE:RDW) was upgraded by 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.

RDW has been the subject of several other research reports. Canaccord Genuity Group decreased their target price on Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research report on Monday, August 11th. Wall Street Zen cut shares of Redwire from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. HC Wainwright reissued a “buy” rating and issued a $22.00 target price (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Truist Financial decreased their price objective on Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Finally, Roth Capital reissued a “buy” rating and issued a $15.00 target price on shares of Redwire in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.06.

Redwire Price Performance

Shares of Redwire stock opened at $6.16 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.11. The company has a market cap of $886.57 million, a PE ratio of -1.94 and a beta of 2.45. The firm has a fifty day moving average price of $8.43 and a two-hundred day moving average price of $11.92. Redwire has a fifty-two week low of $5.72 and a fifty-two week high of $26.66.

Insider Buying and Selling

In other Redwire news, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of the business’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $6.21 per share, for a total transaction of $199,682.55. Following the transaction, the chief executive officer owned 526,728 shares in the company, valued at $3,270,980.88. This trade represents a 6.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total value of $86,130,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AE Industrial Partners LP grew its holdings in Redwire by 139.3% during the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after acquiring an additional 49,765,262 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Redwire in the third quarter worth about $20,372,000. Hood River Capital Management LLC acquired a new position in shares of Redwire during the second quarter worth approximately $36,206,000. Cooper Creek Partners Management LLC bought a new stake in shares of Redwire during the second quarter valued at approximately $32,652,000. Finally, JPMorgan Chase & Co. increased its holdings 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 valued at $5,190,000 after purchasing an additional 555,536 shares in the last quarter. 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.