Redwire (NYSE:RDW) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Redwire (NYSE:RDW) from a hold rating to a strong sell rating in a research report report published on Saturday.

A number of other brokerages have also commented on RDW. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective (down previously from $26.00) on shares of Redwire in a report on Friday. B. Riley cut their target price on shares of Redwire from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Redwire from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Monday, May 12th. Finally, Truist Financial set a $16.00 price objective on shares of Redwire and gave the company a “hold” rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Redwire currently has a consensus rating of “Moderate Buy” and an average target price of $19.42.

Redwire Stock Down 2.1%

Shares of NYSE RDW opened at $8.80 on Friday. Redwire has a 52-week low of $5.27 and a 52-week high of $26.66. The firm has a fifty day moving average of $16.13 and a 200-day moving average of $14.55. The stock has a market capitalization of $1.25 billion, a PE ratio of -2.71 and a beta of 2.52.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The company had revenue of $61.76 million for the quarter, compared to analyst estimates of $80.48 million. Equities research analysts expect that Redwire will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock valued at $212,000 after buying an additional 532 shares during the last quarter. JPMorgan Chase & Co. grew its position in Redwire by 7.8% in the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock worth $179,000 after purchasing an additional 782 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Redwire by 64.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after purchasing an additional 931 shares during the last quarter. Gabelli Funds LLC grew its position in Redwire by 7.4% in the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company’s stock worth $156,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in Redwire by 10.4% in the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company’s stock worth $302,000 after purchasing an additional 1,751 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.