Redwire Corporation (NYSE:RDW) Stock Now Rated “Hold” by Wall Street Brokerages

Redwire Corporation (NYSE:RDW) has been given an average rating of “Hold” by the thirteen analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.28.

Several analysts have issued reports on RDW shares. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America increased their price target on Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Guggenheim began coverage on Redwire in a report on Monday, September 14th. They issued a “neutral” rating for the company. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald upped their price objective on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th.

Redwire Trading Down 7.0%

RDW opened at $7.80 on Thursday. Redwire has a twelve month low of $4.87 and a twelve month high of $26.64. The company has a fifty day moving average of $10.12 and a 200-day moving average of $11.08. The stock has a market cap of $1.95 billion, a PE ratio of -5.35 and a beta of 3.12. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The firm had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, sell-side analysts predict that Redwire will post -0.73 EPS for the current year.

Insider Activity at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total value of $10,539,792.90. Following the completion of the transaction, the director owned 147,984 shares in the company, valued at $1,678,138.56. This trade represents a 86.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in shares of Redwire by 211.8% during the third quarter. Signaturefd LLC now owns 3,077 shares of the company’s stock worth $32,000 after purchasing an additional 2,090 shares in the last quarter. GAMMA Investing LLC raised its stake in Redwire by 70.4% in the third quarter. GAMMA Investing LLC now owns 3,213 shares of the company’s stock valued at $34,000 after purchasing an additional 1,327 shares in the last quarter. Parallel Advisors LLC purchased a new stake in Redwire in the first quarter valued at approximately $28,000. KBC Group NV bought a new stake in Redwire during the first quarter valued at approximately $29,000. Finally, IFP Advisors Inc increased its holdings in shares of Redwire by 3,662.5% in the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after buying an additional 3,516 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

Redwire Company Profile

Redwire Corporation (NYSE: RDW) is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its capabilities support spacecraft, space stations, national security missions, and other applications across the space economy.

The company’s offerings include deployable solar arrays, spacecraft platforms, avionics, sensors, communications systems, digital engineering and mission-support services. Redwire also develops robotic systems, in-space manufacturing technologies, payloads, and other solutions designed to enable spacecraft operations and the production of materials in orbit.

Redwire was formed in 2020 through the combination of several space technology businesses backed by AE Industrial Partners and became a publicly traded company in 2021.