Redwire (NYSE:RDW) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised Redwire’s price target from $7 to $8 but maintained an “underperform” rating, implying roughly 24.5% downside from the stock’s $10.60 price.
• Analyst sentiment remains mixed: Redwire has an average “Hold” rating and a consensus price target of $14.69, with ratings ranging from Strong Buy to Sell.
• Redwire exceeded quarterly expectations, reporting an adjusted loss of $0.09 per share versus the $0.16 expected loss and revenue of $117.07 million versus the $107.10 million estimate; however, the company remains unprofitable.

Redwire (NYSE:RDW - Get Free Report) had its price target increased by analysts at Bank of America from $7.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Bank of America's price objective would indicate a potential downside of 24.53% from the company's current price.

Several other brokerages also recently weighed in on RDW. Canaccord Genuity Group boosted their price objective on shares of Redwire from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a research note on Sunday, August 9th. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Redwire currently has an average rating of "Hold" and an average price target of $14.69.

Redwire Stock Down 2.5%

Shares of NYSE:RDW traded down $0.27 on Monday, hitting $10.60. 4,382,980 shares of the company's stock were exchanged, compared to its average volume of 28,018,504. Redwire has a 1-year low of $4.87 and a 1-year high of $26.64. The company has a market capitalization of $2.65 billion, a PE ratio of -7.26 and a beta of 3.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The firm's 50-day moving average is $10.89 and its 200 day moving average is $11.44.

Redwire (NYSE:RDW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. Sell-side analysts predict that Redwire will post -0.68 EPS for the current year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares of the company's stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP raised its holdings in shares of Redwire by 256.5% in the second quarter. Corient Private Wealth LP now owns 38,081 shares of the company's stock valued at $466,000 after buying an additional 27,400 shares during the last quarter. Amundi grew its holdings in shares of Redwire by 59.2% during the second quarter. Amundi now owns 63,982 shares of the company's stock worth $782,000 after buying an additional 23,785 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Redwire by 2,236.7% during the second quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company's stock worth $28,157,000 after buying an additional 2,203,783 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Redwire in the 2nd quarter valued at about $57,000. Finally, AlphaGrep UK Ltd purchased a new stake in Redwire during the 2nd quarter valued at approximately $216,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.

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