Redwire (NYSE:RDW) Upgraded by Truist Financial to “Buy” Rating

Truist Financial upgraded shares of Redwire (NYSE:RDW) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has $15.00 target price on the stock, up from their previous target price of $13.00.

RDW has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Jefferies Financial Group lowered their price objective on shares of Redwire from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. Roth Mkm reissued a “buy” rating and issued a $20.00 price objective on shares of Redwire in a research report on Wednesday, January 28th. Canaccord Genuity Group increased their target price on shares of Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Cantor Fitzgerald decreased their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Redwire currently has a consensus rating of “Hold” and an average target price of $13.89.

Redwire Stock Performance

Shares of Redwire stock opened at $9.66 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.27. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -4.07 and a beta of 2.50. The stock’s 50-day moving average is $9.86 and its 200-day moving average is $8.48. Redwire has a one year low of $4.87 and a one year high of $22.25.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.19). Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%.The firm had revenue of $108.79 million for the quarter, compared to the consensus estimate of $98.78 million. Equities analysts predict that Redwire will post -0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the completion of the transaction, the director directly owned 61,541,253 shares in the company, valued at $646,798,569.03. This trade represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 40,400,346 shares of company stock worth $453,127,301 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently made changes to their positions in RDW. Farther Finance Advisors LLC boosted its holdings in shares of Redwire by 4.4% in the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after buying an additional 877 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after acquiring an additional 1,533 shares in the last quarter. Jones Financial Companies Lllp raised its position in Redwire by 24.0% during the third quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock worth $111,000 after acquiring an additional 2,442 shares in the last quarter. Huntleigh Advisors Inc. lifted its stake in Redwire by 4.2% in the third quarter. Huntleigh Advisors Inc. now owns 61,837 shares of the company’s stock valued at $556,000 after acquiring an additional 2,488 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Redwire by 71.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,724 shares of the company’s stock valued at $126,000 after acquiring an additional 3,213 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.