Redwire (NYSE:RDW) Price Target Raised to $8.00

Redwire (NYSE:RDW) had its price target lifted by Bank of America from $7.00 to $8.00 in a research report released on Monday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Cantor Fitzgerald upped their target price on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group increased their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Stock Performance

RDW opened at $10.33 on Monday. The stock has a market cap of $2.58 billion, a PE ratio of -7.07 and a beta of 3.08. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. Redwire has a 1 year low of $4.87 and a 1 year high of $26.64. The stock’s 50 day simple moving average is $10.78 and its 200-day simple moving average is $11.47.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS 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. Sell-side analysts forecast that Redwire will post -0.7 EPS for the current year.

Insider Transactions at Redwire

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 stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC bought a new position in Redwire during the 1st quarter valued at about $28,000. KBC Group NV bought a new stake in Redwire during the first quarter worth about $29,000. Sunbelt Securities Inc. grew its stake in Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after buying an additional 3,396 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after buying an additional 3,668 shares in the last quarter. Finally, CWM LLC increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.