Redwire Co. (NYSE:RDW) Receives Consensus Rating of “Buy” from Analysts

Shares of Redwire Co. (NYSE:RDW) have received a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.04.

A number of equities research analysts recently weighed in on the company. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.50 to $27.00 in a research report on Monday, January 27th. HC Wainwright increased their price target on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Roth Mkm increased their price target on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald started coverage on Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 price target for the company.

Redwire Price Performance

Shares of RDW stock opened at $14.19 on Thursday. Redwire has a 1-year low of $2.98 and a 1-year high of $26.66. The stock’s 50-day moving average is $18.78 and its 200 day moving average is $12.51. The company has a market cap of $944.48 million, a P/E ratio of -11.73 and a beta of 2.23.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now directly owns 4,598,056 shares in the company, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 684,454 shares of company stock worth $13,682,993 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in Redwire during the fourth quarter valued at approximately $33,000. Summit Investment Advisors Inc. raised its position in Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after acquiring an additional 931 shares in the last quarter. Summit Securities Group LLC purchased a new position in Redwire during the fourth quarter valued at approximately $63,000. Jones Financial Companies Lllp raised its position in Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after acquiring an additional 1,372 shares in the last quarter. Finally, US Bancorp DE purchased a new position in Redwire during the fourth quarter valued at approximately $119,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

About Redwire

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.