Redwire Corporation (NYSE:RDW) Receives Average Recommendation of “Hold” from Analysts

Shares of Redwire Corporation (NYSE:RDW) have been given a consensus rating of “Hold” by the twelve ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $14.6875.

Several brokerages have recently commented on RDW. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Guggenheim started coverage on Redwire in a research note on Monday. They issued a “neutral” rating for the company. Bank of America raised their price objective on Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th.

Redwire Stock Up 2.3%

Shares of NYSE RDW opened at $10.74 on Wednesday. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.68 billion, a PE ratio of -7.35 and a beta of 3.08. The company’s fifty day simple moving average is $10.67 and its 200 day simple moving average is $11.63. Redwire has a 12-month low of $4.87 and a 12-month high of $26.64.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The firm had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. As a group, sell-side analysts forecast that Redwire will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC bought a new position in shares of Redwire in the first quarter valued at $28,000. KBC Group NV bought a new stake in shares of Redwire during the first quarter worth about $29,000. CWM LLC increased its position in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after acquiring an additional 3,668 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Redwire by 3,662.5% in the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after acquiring an additional 3,516 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.