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 report report published on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on RDW. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Truist Financial upgraded Redwire from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a report on Monday, March 9th. Cantor Fitzgerald dropped their price objective on Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Redwire in a report on Tuesday, December 23rd. Finally, Canaccord Genuity Group boosted their target price on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Redwire has a consensus rating of “Moderate Buy” and a consensus price target of $13.89.

Redwire Stock Performance

NYSE:RDW opened at $9.59 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. Redwire has a fifty-two week low of $4.87 and a fifty-two week high of $22.25. The stock has a market cap of $1.58 billion, a PE ratio of -4.04 and a beta of 2.50. The firm’s fifty day simple moving average is $9.98 and its 200-day simple moving average is $8.50.

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

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 49,985 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $10.01, for a total transaction of $500,349.85. Following the completion of the transaction, the director directly owned 45,094,000 shares of the company’s stock, valued at $451,390,940. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 40,400,346 shares of company stock valued at $453,127,301 in the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after buying an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Redwire by 352.8% in the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after acquiring an additional 276,814 shares in the last quarter. Strs Ohio purchased a new stake in shares of Redwire in the first quarter valued at $69,000. Geode Capital Management LLC boosted its stake in shares of Redwire by 77.1% during the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock valued at $15,248,000 after acquiring an additional 407,131 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Redwire by 71.2% during 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 and hedge funds own 8.10% of the company’s stock.

About Redwire

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.