Analysts Set Redwire Co. (NYSE:RDW) PT at $7.65

Redwire Co. (NYSE:RDW) has been assigned a consensus rating of “Buy” from the five brokerages that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $7.65.

Several brokerages recently issued reports on RDW. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 9th. Alliance Global Partners raised their price target on shares of Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Friday, August 9th.

Redwire Stock Performance

Shares of NYSE:RDW opened at $6.49 on Tuesday. The firm has a 50 day simple moving average of $6.58 and a 200 day simple moving average of $5.32. Redwire has a 52 week low of $2.35 and a 52 week high of $8.23. The company has a market cap of $431.84 million, a PE ratio of -9.01 and a beta of 1.96.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The firm had revenue of $78.11 million during the quarter, compared to the consensus estimate of $66.86 million. On average, equities analysts predict that Redwire will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 94,579 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $7.88, for a total transaction of $745,282.52. Following the transaction, the director now owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 238,732 shares of company stock worth $1,836,940. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RDW. The Manufacturers Life Insurance Company acquired a new stake in Redwire in the 2nd quarter worth approximately $74,000. AQR Capital Management LLC acquired a new stake in shares of Redwire in the second quarter worth $89,000. SG Americas Securities LLC bought a new stake in shares of Redwire during the 1st quarter worth $59,000. Rhumbline Advisers grew its stake in Redwire by 64.7% in the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after buying an additional 12,703 shares during the last quarter. Finally, LJI Wealth Management LLC acquired a new position in Redwire in the 2nd quarter valued at $258,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.