Redwire (NYSE:RDW) Price Target Raised to $15.00

Redwire (NYSE:RDW) had its price target hoisted by Canaccord Genuity Group from $14.00 to $15.00 in a research note published on Monday, MarketBeat reports. They currently have a buy rating on the stock.

RDW has been the topic of a number of other reports. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Cantor Fitzgerald raised their price objective on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Finally, Jefferies Financial Group set a $15.00 price target on Redwire in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Stock Performance

Shares of Redwire stock opened at $13.49 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $11.83 and its two-hundred day moving average is $11.37. Redwire has a 52 week low of $4.87 and a 52 week high of $26.64. The company has a market capitalization of $3.22 billion, a PE ratio of -9.24 and a beta of 3.05.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 12.65% and a negative net margin of 57.26%. As a group, analysts expect that Redwire will post -0.68 earnings per share for the current year.

Insider Transactions at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the transaction, the director owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Redwire in the second quarter valued at about $196,514,000. Bank of America Corp DE lifted its position in shares of Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the last quarter. State Street Corp boosted its holdings in shares of Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after buying an additional 1,786,038 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Redwire in the 2nd quarter valued at about $16,583,000. Finally, UBS Group AG grew its position in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after buying an additional 1,192,885 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other 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.