Redwire (NYSE:RDW) Price Target Raised to $21.00

Redwire (NYSE:RDW) had its price objective upped by Canaccord Genuity Group from $20.00 to $21.00 in a research report released on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Monday, May 12th. HC Wainwright reissued a “buy” rating and set a $26.00 price target on shares of Redwire in a research note on Tuesday, June 24th. Roth Capital reissued a “buy” rating on shares of Redwire in a research note on Tuesday, June 24th. Wall Street Zen lowered Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, Truist Financial set a $16.00 price target on Redwire and gave the stock a “hold” rating in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and an average target price of $19.61.

Redwire Price Performance

NYSE:RDW opened at $19.40 on Wednesday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -8.58 and a beta of 2.54. Redwire has a 1 year low of $4.87 and a 1 year high of $26.66. The business has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $14.91.

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

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock valued at $21,573,000 after purchasing an additional 101,620 shares in the last quarter. Barclays PLC raised its position in Redwire by 6.5% during the 4th quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock valued at $20,713,000 after purchasing an additional 77,228 shares in the last quarter. Federated Hermes Inc. raised its position in Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock valued at $8,202,000 after purchasing an additional 310,769 shares in the last quarter. LBP AM SA raised its position in Redwire by 24.8% during the 1st quarter. LBP AM SA now owns 496,230 shares of the company’s stock valued at $4,114,000 after purchasing an additional 98,616 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after acquiring an additional 276,814 shares during the period. 8.10% of the stock is owned by institutional investors.

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.