HC Wainwright Reaffirms Buy Rating for Redwire (NYSE:RDW)

Redwire (NYSE:RDW)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Friday, Marketbeat Ratings reports. They presently have a $22.00 price target on the stock, down from their previous price target of $26.00. HC Wainwright’s price target indicates a potential upside of 144.99% from the stock’s current price.

A number of other equities research analysts have also issued reports on RDW. Canaccord Genuity Group raised their price target on shares of Redwire from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Roth Capital reaffirmed a “buy” rating on shares of Redwire in a research note on Tuesday, June 24th. Truist Financial set a $16.00 target price on shares of Redwire and gave the company a “hold” rating in a research note on Thursday, June 26th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Redwire Stock Down 5.2%

Shares of NYSE:RDW opened at $8.98 on Friday. The stock has a market cap of $1.28 billion, a PE ratio of -2.76 and a beta of 2.52. The company’s fifty day moving average is $16.23 and its 200 day moving average is $14.63. Redwire has a 52 week low of $5.27 and a 52 week high of $26.66.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share (EPS) 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. Sell-side analysts anticipate that Redwire will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. LBP AM SA raised its holdings in shares of Redwire by 24.8% during the first 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 during the last quarter. PFG Advisors purchased a new position in shares of Redwire during the first quarter valued at approximately $144,000. Bank of America Corp DE raised its holdings in shares of Redwire by 72.7% during the fourth quarter. Bank of America Corp DE now owns 39,717 shares of the company’s stock valued at $654,000 after purchasing an additional 16,715 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Redwire during the first quarter valued at approximately $269,000. Finally, Tcfg Wealth Management LLC purchased a new position in shares of Redwire during the first quarter valued at approximately $166,000. 8.10% of the stock is owned by hedge funds and other 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.