Redwire Co. (NYSE:RDW) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Redwire Co. (NYSE:RDW) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.13.

Several research firms recently issued reports on RDW. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Redwire in a report on Monday, September 30th. Roth Mkm raised their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. HC Wainwright assumed coverage on shares of Redwire in a research note on Tuesday. They set a “buy” rating and a $18.00 price target for the company. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and raised their price objective for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Finally, Alliance Global Partners upped their target price on shares of Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in RDW. SG Americas Securities LLC bought a new stake in shares of Redwire in the 1st quarter valued at $59,000. Vontobel Holding Ltd. acquired a new position in Redwire in the third quarter valued at about $74,000. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire in the second quarter worth about $74,000. AQR Capital Management LLC acquired a new stake in shares of Redwire during the second quarter worth about $89,000. Finally, MetLife Investment Management LLC grew its position in shares of Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the period. 8.10% of the stock is owned by institutional investors.

Redwire Stock Performance

NYSE:RDW opened at $13.76 on Tuesday. The company has a market cap of $915.59 million, a price-to-earnings ratio of -11.37 and a beta of 1.93. The stock’s fifty day moving average price is $8.46 and its two-hundred day moving average price is $6.99. Redwire has a 52-week low of $2.49 and a 52-week high of $14.24.

Redwire Company Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.