Redwire Corporation (NYSE:RDW) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Redwire Corporation (NYSE:RDW) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $15.4444.

A number of brokerages recently issued reports on RDW. Canaccord Genuity Group upped their price objective on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st.

Redwire Stock Up 1.8%

Shares of NYSE:RDW opened at $8.61 on Tuesday. 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 business has a fifty day moving average of $14.33 and a two-hundred day moving average of $11.37. The stock has a market cap of $2.06 billion, a P/E ratio of -3.21 and a beta of 3.01. Redwire has a 52-week low of $4.87 and a 52-week high of $26.64.

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 analysts’ consensus estimates 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 analyst estimates of $105.94 million. During the same period last year, the business earned ($0.09) earnings per share. The firm’s revenue was up 57.9% compared to the same quarter last year. On average, research analysts expect that Redwire will post -0.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was 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 directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its stake in Redwire by 4.4% during the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock worth $159,000 after acquiring an additional 877 shares in the last quarter. Parvin Asset Management LLC boosted its holdings in Redwire by 6.9% during the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after acquiring an additional 1,150 shares during the period. Tower Research Capital LLC TRC grew its position in Redwire by 32.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares in the last quarter. BNP Paribas Financial Markets grew its position in Redwire by 12.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after acquiring an additional 3,248 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in Redwire during the first quarter worth about $28,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.