Roth Mkm Forecasts Strong Price Appreciation for Redwire (NYSE:RDW) Stock

Redwire (NYSE:RDW) had its target price hoisted by equities researchers at Roth Mkm from $10.00 to $13.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price target would indicate a potential upside of 46.56% from the stock’s current price.

RDW has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. Alliance Global Partners boosted their price target on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and lifted their price target for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.55.

Redwire Stock Up 4.2 %

RDW traded up $0.36 during midday trading on Friday, hitting $8.87. 224,034 shares of the company were exchanged, compared to its average volume of 336,805. Redwire has a 1-year low of $2.35 and a 1-year high of $9.36. The firm’s 50 day moving average price is $7.32 and its 200-day moving average price is $6.36. The firm has a market capitalization of $590.17 million, a P/E ratio of -9.05 and a beta of 1.93.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The firm had revenue of $78.11 million during the quarter, compared to the consensus estimate of $66.86 million. On average, sell-side analysts predict that Redwire will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Redwire

Several large investors have recently made changes to their positions in RDW. The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire in the 2nd quarter valued at about $74,000. Vontobel Holding Ltd. acquired a new position in shares of Redwire during the third quarter valued at $74,000. AQR Capital Management LLC bought a new position in Redwire in the 2nd quarter worth about $89,000. SG Americas Securities LLC bought a new position in Redwire in the 1st quarter worth approximately $59,000. Finally, Rhumbline Advisers raised its stake in shares of Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.