Jefferies Financial Group Cuts Redwire (NYSE:RDW) Price Target to $12.00

Redwire (NYSE:RDW) had its price target dropped by Jefferies Financial Group from $13.00 to $12.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 41.01% from the company’s current price.

Several other brokerages have also recently commented on RDW. Bank of America decreased their target price on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, November 19th. Truist Financial set a $13.00 price objective on shares of Redwire in a research note on Friday, January 9th. Canaccord Genuity Group upped their target price on shares of Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 27th. iA Financial set a $9.00 price objective on Redwire in a research note on Thursday, November 6th. Finally, KeyCorp began coverage on Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating on the stock. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Redwire has a consensus rating of “Hold” and an average price target of $13.67.

Redwire Price Performance

NYSE RDW traded down $0.56 during trading on Friday, reaching $8.51. 15,653,456 shares of the company traded hands, compared to its average volume of 26,721,869. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.05 and a current ratio of 1.62. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -3.59 and a beta of 2.50. Redwire has a 1-year low of $4.87 and a 1-year high of $22.25. The stock’s 50 day moving average price is $9.78 and its two-hundred day moving average price is $8.48.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.19). The company had revenue of $108.79 million during the quarter, compared to the consensus estimate of $98.78 million. Redwire had a negative net margin of 67.55% and a negative return on equity of 13.04%. As a group, analysts anticipate that Redwire will post -0.85 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of Redwire stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total value of $133,021,738.33. Following the transaction, the director owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. The trade was a 17.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 40,400,346 shares of company stock valued at $453,127,301 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its holdings in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares in the last quarter. CWM LLC boosted its position in shares of 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 period. Abich Financial Wealth Management LLC bought a new position in shares of Redwire during the third quarter worth about $41,000. Russell Investments Group Ltd. raised its position in Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after buying an additional 3,672 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Redwire by 32.3% in the 2nd 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 during the last quarter. 8.10% of the stock is owned by institutional investors.

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.