Redwire (NYSE:RDW – Get Free Report) had its price target lifted by equities research analysts at Cantor Fitzgerald from $9.00 to $13.50 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 26.37% from the stock’s previous close.
Other analysts also recently issued reports about the company. Canaccord Genuity Group increased their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group raised Redwire to a “hold” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.94.
Check Out Our Latest Report on RDW
Redwire Stock Up 10.8%
Redwire (NYSE:RDW – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) earnings per share. Equities analysts predict that Redwire will post -0.81 EPS for the current year.
Insider Buying and Selling
In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s 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 transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
Institutional Investors Weigh In On Redwire
Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC bought a new position in shares of Redwire in the 1st quarter worth $28,000. KBC Group NV bought a new stake in Redwire during the 1st quarter valued at $29,000. Sunbelt Securities Inc. raised its holdings in Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after buying an additional 3,396 shares during the last quarter. CWM LLC raised its holdings in Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares in the last quarter. 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.
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