Redwire (NYSE:RDW) Price Target Raised to $26.00

Redwire (NYSE:RDW) had its price objective raised by equities research analysts at HC Wainwright from $18.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 16.01% from the company’s previous close.

RDW has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Redwire in a report on Monday, September 30th. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and raised their price target for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Roth Mkm boosted their price objective on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Redwire Stock Performance

NYSE RDW opened at $22.41 on Wednesday. The company’s 50-day simple moving average is $13.86 and its two-hundred day simple moving average is $9.47. Redwire has a one year low of $2.76 and a one year high of $22.50. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -18.52 and a beta of 2.17.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now directly owns 4,598,056 shares in the company, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 267,656 shares of company stock valued at $4,721,852 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Redwire during the 3rd quarter worth about $623,000. Bank of New York Mellon Corp raised its stake in shares of Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after buying an additional 59,372 shares during the last quarter. State Street Corp lifted its holdings in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after buying an additional 30,963 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Company Profile

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.