Redwire Corporation (NYSE:RDW) Receives $13.13 Consensus Target Price from Analysts

Shares of Redwire Corporation (NYSE:RDW) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.75.

Several analysts have recently weighed in on the company. Industrial Alliance Securities set a $9.00 price objective on Redwire in a report on Thursday, November 6th. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Redwire in a research note on Wednesday, January 28th. Canaccord Genuity Group dropped their target price on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Bank of America reduced their target price on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th.

Redwire Stock Down 7.5%

Redwire stock opened at $10.87 on Tuesday. Redwire has a 52 week low of $4.87 and a 52 week high of $26.66. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -3.43 and a beta of 2.44. The company’s 50-day moving average price is $8.74 and its two-hundred day moving average price is $9.13. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.15). Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. The company had revenue of $103.43 million during the quarter, compared to the consensus estimate of $132.05 million. On average, analysts expect that Redwire will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 3,932,686 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $12.80, for a total value of $50,338,380.80. Following the completion of the transaction, the director owned 52,760,700 shares in the company, valued at $675,336,960. This trade represents a 6.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Aaron Michael Futch purchased 18,410 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average cost of $5.45 per share, for a total transaction of $100,334.50. Following the purchase, the executive vice president directly owned 88,704 shares in the company, valued at $483,436.80. This represents a 26.19% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 56,065 shares of company stock valued at $330,047 and have sold 32,733,646 shares valued at $366,768,390. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AE Industrial Partners LP boosted its holdings in shares of Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after purchasing an additional 49,765,262 shares during the period. Canal Insurance CO purchased a new stake in Redwire in the 2nd quarter worth approximately $3,260,000. Register Financial Advisors LLC boosted its stake in shares of Redwire by 46.8% during the 3rd quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock valued at $2,948,000 after buying an additional 104,597 shares during the period. Voya Investment Management LLC purchased a new position in shares of Redwire during the 3rd quarter valued at $20,372,000. Finally, Geode Capital Management LLC increased its stake in shares of Redwire by 77.1% in the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after acquiring an additional 407,131 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

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.