Roth Mkm Forecasts Strong Price Appreciation for Redwire (NYSE:RDW) Stock

Redwire (NYSE:RDW) had its target price upped by research analysts at Roth Mkm from $10.00 to $13.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 44.12% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Alliance Global Partners lifted their price objective on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th. 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 report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Redwire presently has an average rating of “Moderate Buy” and a consensus target price of $8.55.

Redwire Price Performance

Shares of NYSE:RDW opened at $9.02 on Friday. The business’s fifty day moving average price is $7.36 and its two-hundred day moving average price is $6.41. Redwire has a fifty-two week low of $2.35 and a fifty-two week high of $9.36. The stock has a market capitalization of $600.19 million, a price-to-earnings ratio of -7.45 and a beta of 1.93.

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

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. SG Americas Securities LLC acquired a new stake in shares of Redwire during the 1st quarter worth approximately $59,000. Vanguard Group Inc. grew its holdings in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares during the period. DNB Asset Management AS raised its position in shares of Redwire by 23.9% during the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after acquiring an additional 7,538 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after purchasing an additional 59,372 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Redwire by 64.7% in the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after purchasing an additional 12,703 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

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.