Redwire Co. (NYSE:RDW) Receives $20.05 Consensus PT from Analysts

Redwire Co. (NYSE:RDW) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.05.

A number of brokerages recently weighed in on RDW. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Monday, May 12th. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. Wall Street Zen upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. Finally, B. Riley dropped their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th.

Redwire Stock Up 2.1%

Shares of NYSE:RDW opened at $12.98 on Thursday. Redwire has a 12 month low of $4.84 and a 12 month high of $26.66. The company’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $13.85. The firm has a market cap of $1.00 billion, a P/E ratio of -10.73 and a beta of 2.46.

Redwire (NYSE:RDW) last released its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). The business had revenue of $61.40 million for the quarter, compared to analyst estimates of $74.54 million. As a group, equities analysts predict that Redwire will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Redwire

Several hedge funds have recently added to or reduced their stakes in RDW. Barclays PLC boosted its position in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of Redwire in the fourth quarter valued at about $165,000. Van ECK Associates Corp bought a new stake in shares of Redwire in the fourth quarter valued at about $1,151,000. Wolverine Asset Management LLC boosted its position in shares of Redwire by 332.2% in the fourth quarter. Wolverine Asset Management LLC now owns 15,546 shares of the company’s stock valued at $256,000 after acquiring an additional 11,949 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Redwire by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company’s stock valued at $859,000 after acquiring an additional 3,357 shares during the period. 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.