Redwire (NYSE:RDW) Upgraded at Truist Financial

Truist Financial upgraded shares of Redwire (NYSE:RDW) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat reports. The firm currently has $15.00 target price on the stock, up from their previous target price of $13.00.

Several other analysts have also commented on the company. Canaccord Genuity Group raised their target price on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. KeyCorp began coverage on shares of Redwire in a research note on Thursday, December 18th. They set a “sector weight” rating on the stock. Bank of America cut their target price on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th. Finally, Zacks Research cut shares of Redwire from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.89.

Redwire Trading Up 2.2%

NYSE RDW opened at $9.44 on Monday. Redwire has a 1 year low of $4.87 and a 1 year high of $22.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.27. The company has a market capitalization of $1.56 billion, a PE ratio of -3.98 and a beta of 2.50. The company has a fifty day moving average of $9.93 and a 200 day moving average of $8.49.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.19). The company had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million. Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%. Research analysts forecast that Redwire will post -0.85 earnings per share for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 49,985 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total value of $500,349.85. Following the sale, the director directly owned 45,094,000 shares of the company’s stock, valued at approximately $451,390,940. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 40,400,346 shares of company stock valued at $453,127,301 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its holdings in Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares in the last quarter. CWM LLC grew its position in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Redwire in the third quarter valued at about $41,000. Russell Investments Group Ltd. grew its position in shares of Redwire by 308.6% in the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Redwire by 440.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock worth $60,000 after purchasing an additional 5,395 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.