Shares of Redwire Corporation (NYSE:RDW – Get Free Report) were down 1.2% during mid-day trading on Monday . The stock traded as low as $10.21 and last traded at $10.4950. Approximately 9,605,120 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 27,202,598 shares. The stock had previously closed at $10.62.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on RDW. Jefferies Financial Group set a $15.00 price target on Redwire in a report on Sunday, August 9th. Canaccord Genuity Group raised their target price on Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Finally, Bank of America increased their price target on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.69.
Check Out Our Latest Stock Report on Redwire
Redwire Trading Down 1.2%
Redwire (NYSE:RDW – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. Equities analysts anticipate that Redwire Corporation will post -0.7 earnings per share for the current year.
Institutional Investors Weigh In On Redwire
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDW. BlackRock Inc. purchased a new stake in Redwire during the second quarter valued at about $196,514,000. Van ECK Associates Corp increased its stake in shares of Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock worth $83,791,000 after purchasing an additional 4,341,424 shares in the last quarter. Bank of America Corp DE raised its position in shares of Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after purchasing an additional 6,730,414 shares during the period. California State Teachers Retirement System lifted its stake in shares of Redwire by 2,236.7% during the 2nd quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company’s stock valued at $28,157,000 after buying an additional 2,203,783 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Redwire during the 2nd quarter valued at approximately $16,583,000. 8.10% of the stock is currently owned by institutional investors.
Redwire Company Profile
Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.
The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.
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