Redwire (NYSE:RDW) Upgraded at Zacks Research

Zacks Research upgraded shares of Redwire (NYSE:RDW) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on RDW. Industrial Alliance Securities set a $9.00 price objective on shares of Redwire in a research report on Thursday, November 6th. Canaccord Genuity Group dropped their price target on Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. Wall Street Zen lowered Redwire from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Truist Financial lowered their target price on Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.25.

Redwire Price Performance

RDW opened at $5.98 on Monday. The company’s 50-day simple moving average is $8.38 and its two-hundred day simple moving average is $11.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.11 and a current ratio of 1.41. The stock has a market capitalization of $860.64 million, a P/E ratio of -1.88 and a beta of 2.45. Redwire has a 52-week low of $5.72 and a 52-week high of $26.66.

Insider Buying and Selling at Redwire

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of the stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $6.21 per share, for a total transaction of $199,682.55. Following the completion of the transaction, the chief executive officer owned 526,728 shares in the company, valued at approximately $3,270,980.88. This represents a 6.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC lifted its holdings in Redwire by 65.4% during the third quarter. Gabelli Funds LLC now owns 32,871 shares of the company’s stock valued at $296,000 after purchasing an additional 13,000 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Redwire in the third quarter worth $105,000. Quantbot Technologies LP bought a new stake in shares of Redwire during the 3rd quarter valued at $2,607,000. Intech Investment Management LLC lifted its stake in shares of Redwire by 48.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,975 shares of the company’s stock valued at $189,000 after buying an additional 6,835 shares in the last quarter. Finally, AE Industrial Partners LP lifted its stake in shares of Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after buying an additional 6,101,959 shares in the last quarter. 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.