Redwire Corporation (NYSE:RDW) Given Consensus Rating of “Moderate Buy” by Brokerages

Redwire Corporation (NYSE:RDW) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $15.4444.

Several equities research analysts recently issued reports on the company. Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen cut Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Jefferies Financial Group upgraded Redwire to a “hold” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group lifted their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st.

Redwire Stock Performance

RDW opened at $8.61 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -3.21 and a beta of 3.01. Redwire has a 52-week low of $4.87 and a 52-week high of $26.64. The firm’s fifty day simple moving average is $14.33 and its two-hundred day simple moving average is $11.37.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the prior year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 57.9% on a year-over-year basis. Equities analysts anticipate that Redwire will post -0.81 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after acquiring an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Redwire by 352.8% in the 1st 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 during the last quarter. Strs Ohio purchased a new position in Redwire in the 1st quarter worth approximately $69,000. Rhumbline Advisers boosted its holdings in shares of Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after purchasing an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Redwire by 57.6% during the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after purchasing an additional 7,750 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.