Redwire Corporation (NYSE:RDW) Given Average Recommendation of “Moderate Buy” by Brokerages

Redwire Corporation (NYSE:RDW) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.8889.

Several research analysts recently commented on RDW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. KeyCorp assumed coverage on shares of Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating on the stock. Truist Financial raised shares of Redwire from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Monday, March 9th. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Bank of America decreased their price objective on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th.

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 40,509,027 shares of company stock worth $454,220,052 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 the stock. AQR Capital Management LLC boosted its holdings in shares of Redwire by 125.0% in the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after buying an additional 28,576 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the last quarter. Strs Ohio acquired a new position in Redwire during the first quarter worth $69,000. Geode Capital Management LLC raised its position in Redwire by 77.1% during the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after acquiring an additional 407,131 shares in 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 Trading Up 5.9%

NYSE RDW opened at $10.10 on Wednesday. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -4.26 and a beta of 2.50. The stock’s 50 day moving average price is $9.95 and its two-hundred day moving average price is $8.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.62. Redwire has a 52 week low of $4.87 and a 52 week high of $22.25.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $108.79 million for the quarter, compared to the consensus estimate of $98.78 million. As a group, analysts anticipate that Redwire will post -0.85 earnings per share for the current fiscal year.

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.