Redwire (NYSE:RDW) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Redwire (NYSE:RDW) in a research note published on Monday, Benzinga reports. They currently have a $6.00 price target on the stock.

A number of other research analysts also recently issued reports on the company. Alliance Global Partners upped their price objective on Redwire from $7.00 to $8.25 and gave the company a buy rating in a research note on Tuesday, July 30th. B. Riley upgraded Redwire from a neutral rating to a buy rating and set a $8.00 price objective for the company in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Redwire has a consensus rating of Buy and an average price target of $7.65.

Redwire Stock Performance

Shares of RDW opened at $6.95 on Monday. Redwire has a 52-week low of $2.35 and a 52-week high of $8.23. The business’s 50 day moving average price is $6.42 and its two-hundred day moving average price is $5.51. The firm has a market cap of $462.45 million, a PE ratio of -9.65 and a beta of 1.96.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates 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. Research analysts predict that Redwire will post -0.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 56,516 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $7.64, for a total transaction of $431,782.24. Following the sale, the director now owns 36,018,155 shares of the company’s stock, valued at approximately $275,178,704.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 238,732 shares of company stock valued at $1,836,940 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Redwire in the 1st quarter valued at about $59,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire in the 2nd quarter valued at about $74,000. AQR Capital Management LLC purchased a new stake in shares of Redwire in the 2nd quarter valued at about $89,000. Rhumbline Advisers raised its holdings in shares of Redwire by 64.7% in the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after acquiring an additional 12,703 shares in the last quarter. Finally, LJI Wealth Management LLC purchased a new stake in shares of Redwire in the 2nd quarter valued at about $258,000. Hedge funds and other institutional investors 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.