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

Redwire (NYSE:RDW) had its price target cut by Jefferies Financial Group from $13.00 to $12.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

RDW has been the subject of several other reports. KeyCorp started coverage on Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating for the company. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Redwire in a report on Tuesday, December 23rd. iA Financial set a $9.00 target price on Redwire in a research note on Thursday, November 6th. Zacks Research lowered Redwire from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. Finally, Roth Mkm reiterated a “buy” rating and set a $20.00 price target on shares of Redwire in a research report on Wednesday, January 28th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.67.

Redwire Stock Performance

Shares of RDW stock opened at $8.59 on Friday. The firm’s 50 day moving average is $9.81 and its 200 day moving average is $8.47. The stock has a market capitalization of $1.42 billion, a P/E ratio of -3.62 and a beta of 2.50. Redwire has a 12 month low of $4.87 and a 12 month high of $22.25. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last released its quarterly earnings data 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). 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 analysts’ expectations of $98.78 million. On average, sell-side analysts anticipate that Redwire will post -0.85 earnings per share for the current year.

Insider Buying and Selling at Redwire

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

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. raised its holdings in shares of Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares in the last quarter. CWM LLC boosted its position in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Redwire during the third quarter worth about $41,000. Russell Investments Group Ltd. grew its holdings in shares of Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after purchasing an additional 3,672 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other 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.