Redwire Corporation (NYSE:RDW) Given Consensus Rating of “Hold” by Brokerages

Redwire Corporation (NYSE:RDWGet Free Report) has received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.4375.

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group upped their target price on Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. Cantor Fitzgerald raised their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Check Out Our Latest Report on RDW

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction on Thursday, June 11th. The shares were 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 $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RDW. Jupiter Topco LLC acquired a new position in Redwire in the 2nd quarter valued at approximately $894,000. Hsbc Holdings PLC bought a new position in shares of Redwire during the second quarter valued at $350,000. Legal & General Group Plc bought a new position in Redwire during the 2nd quarter valued at about $1,763,000. The Manufacturers Life Insurance Company bought a new position in shares of Redwire in the second quarter valued at approximately $1,303,000. Finally, Algert Global LLC boosted its stake in Redwire by 247.6% in the second quarter. Algert Global LLC now owns 175,870 shares of the company’s stock worth $2,151,000 after purchasing an additional 125,270 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Redwire Trading Up 2.8%

Shares of NYSE:RDW opened at $13.57 on Friday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -9.30 and a beta of 3.05. Redwire has a 1-year low of $4.87 and a 1-year high of $26.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 3.92. The company has a 50 day moving average price of $11.56 and a 200 day moving average price of $11.39.

Redwire (NYSE:RDWGet Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The business had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. On average, research analysts anticipate that Redwire will post -0.68 EPS for the current fiscal year.

Redwire Company Profile

(Get Free Report)

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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Analyst Recommendations for Redwire (NYSE:RDW)

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