Redwire Corporation (NYSE:RDW) Receives Average Recommendation of “Hold” from Analysts

Shares of Redwire Corporation (NYSE:RDW) have received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $13.75.

A number of research analysts have commented on the stock. Canaccord Genuity Group cut their target price on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. 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. Cantor Fitzgerald decreased their price objective 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. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Roth Mkm reissued a “buy” rating and set a $20.00 price target on shares of Redwire in a research report on Wednesday.

Redwire Trading Down 8.4%

NYSE RDW opened at $11.73 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.94 billion, a PE ratio of -3.70 and a beta of 2.44. The company’s 50-day moving average price is $8.63 and its 200-day moving average price is $9.25. Redwire has a 12 month low of $4.87 and a 12 month high of $26.66.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.15). The company had revenue of $103.43 million for the quarter, compared to the consensus estimate of $132.05 million. Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. Equities research analysts forecast that Redwire will post -0.85 earnings per share for the current year.

Insider Activity

In other news, EVP Aaron Michael Futch acquired 18,410 shares of the business’s stock in a transaction on Friday, November 14th. The stock was bought at an average price of $5.45 per share, with a total value of $100,334.50. Following the completion of the acquisition, the executive vice president owned 88,704 shares of the company’s stock, valued at approximately $483,436.80. This represents a 26.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ae Red Holdings, Llc sold 3,932,686 shares of Redwire stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $12.80, for a total value of $50,338,380.80. Following the completion of the transaction, the director owned 52,760,700 shares of the company’s stock, valued at approximately $675,336,960. This represents a 6.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have purchased 56,065 shares of company stock worth $330,047 and have sold 32,733,646 shares worth $366,768,390. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

Institutional investors have recently added to or reduced their stakes in the stock. AE Industrial Partners LP raised its holdings in shares of Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after acquiring an additional 49,765,262 shares during the last quarter. Canal Insurance CO acquired a new stake in shares of Redwire in the 2nd quarter worth $3,260,000. Register Financial Advisors LLC increased its position in Redwire by 46.8% during the third quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock worth $2,948,000 after purchasing an additional 104,597 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Redwire during the 3rd quarter worth approximately $20,372,000. Finally, Geode Capital Management LLC raised its position in Redwire by 77.1% in the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock valued at $15,248,000 after purchasing an additional 407,131 shares during the period. Institutional investors and hedge funds 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.