Redwire (NYSE:RDW) Price Target Raised to $13.50

Redwire (NYSE:RDW) had its target price hoisted by research analysts at Cantor Fitzgerald from $9.00 to $13.50 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 26.37% from the company’s previous close.

Several other analysts have also issued reports on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group upped their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and an average target price of $15.94.

Redwire Stock Up 10.8%

RDW stock opened at $10.68 on Wednesday. The firm has a market capitalization of $2.55 billion, a PE ratio of -3.99 and a beta of 3.05. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. Redwire has a twelve month low of $4.87 and a twelve month high of $26.64. The stock’s 50 day moving average is $12.99 and its 200-day moving average is $11.31.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 57.9% compared to the same quarter last year. Sell-side analysts expect that Redwire will post -0.81 EPS for the current fiscal year.

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in RDW. Parallel Advisors LLC bought a new position in Redwire during the first quarter valued at about $28,000. KBC Group NV bought a new stake in Redwire in the first quarter worth about $29,000. Sunbelt Securities Inc. raised its position in Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the period. CWM LLC raised its position in Redwire by 1,725.0% in 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 during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after acquiring an additional 3,668 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.