Redwire (NYSE:RDW) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Redwire (NYSE:RDW) from a strong sell rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on RDW. Truist Financial raised shares of Redwire from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $15.00 in a research report on Monday. Canaccord Genuity Group increased their price target on shares of Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, February 27th. KeyCorp started coverage on shares of Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. Finally, Jefferies Financial Group cut their price objective on shares of Redwire from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.89.

Redwire Stock Performance

Shares of NYSE RDW opened at $9.49 on Wednesday. Redwire has a 12 month low of $4.87 and a 12 month high of $22.25. The company has a market cap of $1.57 billion, a P/E ratio of -4.00 and a beta of 2.50. The business’s 50 day moving average is $9.96 and its two-hundred day moving average is $8.49. The company has a quick ratio of 1.27, a current ratio of 1.62 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of Redwire stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the sale, the director owned 61,541,253 shares in the company, valued at $646,798,569.03. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 40,400,346 shares of company stock valued at $453,127,301 over the last three months. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after acquiring an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Redwire by 352.8% in the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares in the last quarter. Strs Ohio acquired a new position in shares of Redwire in the 1st quarter worth approximately $69,000. Geode Capital Management LLC lifted its holdings in shares of Redwire by 77.1% during the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock valued at $15,248,000 after acquiring an additional 407,131 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in Redwire by 71.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,724 shares of the company’s stock valued at $126,000 after purchasing an additional 3,213 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

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.