Redwire (NYSE:RDW) Raised to Hold at Wall Street Zen

Redwire (NYSE:RDW) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group increased their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Jefferies Financial Group upgraded Redwire to a “hold” rating in a research report on Wednesday, June 10th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.44.

Redwire Stock Down 0.4%

RDW opened at $14.29 on Friday. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -5.33 and a beta of 2.92. The firm has a 50 day moving average price of $14.03 and a 200-day moving average price of $10.81. Redwire has a twelve month low of $4.87 and a twelve month high of $26.64. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter in the prior year, the business posted ($0.09) EPS. The company’s revenue for the quarter was up 57.9% compared to the same quarter last year. Equities research analysts forecast that Redwire will post -0.76 earnings per share for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the 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 transaction, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 23,211,433 shares of company stock worth $239,826,208 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

A number of hedge funds have recently modified their holdings of RDW. Parallel Advisors LLC purchased a new stake in shares of Redwire in the 1st quarter worth $28,000. KBC Group NV purchased a new position in Redwire during the first quarter valued at $29,000. Sunbelt Securities Inc. lifted its position in Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after purchasing an additional 3,396 shares in the last quarter. CWM LLC grew its holdings in Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the period. Institutional investors 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.