Redwire Corporation (NYSE:RDW) Receives Consensus Rating of “Hold” from Brokerages

Redwire Corporation (NYSE:RDW) has earned an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $14.25.

Several analysts have commented on RDW shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Wednesday, October 8th. Cantor Fitzgerald cut their target price on Redwire from $28.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. HC Wainwright restated a “buy” rating and set a $22.00 target price (down previously from $26.00) on shares of Redwire in a report on Friday, August 8th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday.

Insider Buying and Selling at Redwire

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

Institutional Investors Weigh In On Redwire

Hedge funds have recently modified their holdings of the business. Ameritas Advisory Services LLC bought a new position in shares of Redwire during the 2nd quarter valued at about $54,000. Abich Financial Wealth Management LLC acquired a new stake in Redwire during the 3rd quarter worth approximately $41,000. KLP Kapitalforvaltning AS acquired a new stake in Redwire during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC lifted its stake in Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after buying an additional 1,533 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of 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 valued at $126,000 after buying an additional 3,213 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Trading Down 2.5%

Shares of NYSE RDW opened at $5.98 on Thursday. The company’s 50 day simple moving average is $8.38 and its 200 day simple moving average is $11.88. Redwire has a fifty-two week low of $5.72 and a fifty-two week high of $26.66. The firm has a market capitalization of $860.64 million, a P/E ratio of -1.88 and a beta of 2.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.11.

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.