Redwire (NYSE:RDW) Stock Rating Reaffirmed by Cantor Fitzgerald

Redwire (NYSE:RDW)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $6.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential downside of 6.40% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Friday, August 9th. Alliance Global Partners lifted their price objective on shares of Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $7.65.

Redwire Trading Down 6.7 %

NYSE:RDW opened at $6.41 on Monday. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23. The firm has a fifty day simple moving average of $6.42 and a 200 day simple moving average of $5.60. The stock has a market capitalization of $420.36 million, a PE ratio of -9.54 and a beta of 1.96.

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

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 24,883 shares of Redwire stock in a transaction on Friday, July 19th. The stock was sold at an average price of $7.10, for a total transaction of $176,669.30. Following the completion of the sale, the director now owns 35,708,528 shares of the company’s stock, valued at $253,530,548.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 238,732 shares of company stock valued at $1,836,940. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Redwire in the first quarter valued at about $59,000. The Manufacturers Life Insurance Company acquired a new position in Redwire in the second quarter valued at about $74,000. AQR Capital Management LLC acquired a new position in Redwire in the second quarter valued at about $89,000. Rhumbline Advisers raised its stake in Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares in the last quarter. Finally, LJI Wealth Management LLC acquired a new position in Redwire in the second quarter valued at about $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.