Redwire Corporation (NYSE:RDW) Receives $21.50 Average PT from Brokerages

Shares of Redwire Corporation (NYSE:RDW) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $21.50.

A number of brokerages have weighed in on RDW. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of Redwire in a report on Tuesday, June 24th. Truist Financial set a $16.00 price objective on shares of Redwire and gave the stock a “hold” rating in a report on Thursday, June 26th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Roth Capital restated a “buy” rating on shares of Redwire in a report on Tuesday, June 24th. Finally, Canaccord Genuity Group upped their target price on shares of Redwire from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Redwire by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock worth $21,573,000 after purchasing an additional 101,620 shares during the last quarter. Barclays PLC boosted its holdings in Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock worth $20,713,000 after purchasing an additional 77,228 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after purchasing an additional 310,769 shares during the last quarter. LBP AM SA boosted its holdings in Redwire by 24.8% in the first quarter. LBP AM SA now owns 496,230 shares of the company’s stock worth $4,114,000 after purchasing an additional 98,616 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Redwire by 352.8% in the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

Shares of NYSE RDW opened at $9.50 on Tuesday. Redwire has a 1 year low of $4.87 and a 1 year high of $26.66. The company’s 50-day moving average is $16.34 and its 200 day moving average is $14.82. The stock has a market capitalization of $1.35 billion, a P/E ratio of -2.92 and a beta of 2.52.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). The business had revenue of $61.76 million for the quarter, compared to analyst estimates of $80.48 million. Research analysts anticipate that Redwire will post -0.85 earnings per share for the current year.

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.