Wall Street Zen Upgrades Redwire (NYSE:RDW) to "Hold"

Key Points

• Wall Street Zen upgraded Redwire from “sell” to “hold.” Across analysts, the stock also has a consensus “hold” rating and an average price target of $14.28.
• Redwire shares fell 3.9% to $7.71 in Friday trading, below their 50-day and 200-day moving averages.
• The company beat quarterly EPS expectations with a loss of $0.06 per share, but revenue of $109.03 million missed analysts’ $126.75 million forecast.

Redwire (NYSE:RDW - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday, Wall Street Zen reports.

RDW has been the subject of a number of other reports. B. Riley Financial decreased their price target on Redwire from $15.00 to $14.00 and set a "buy" rating for the company in a report on Friday, November 6th. Piper Sandler cut their target price on Redwire from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, November 6th. Canaccord Genuity Group cut their target price on Redwire from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, November 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Redwire in a research note on Thursday, October 15th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.28.

Redwire Trading Down 3.9%

Shares of NYSE:RDW traded down $0.32 during trading on Friday, reaching $7.71. The stock had a trading volume of 10,818,651 shares, compared to its average volume of 12,876,677. The firm's fifty day moving average is $9.56 and its 200 day moving average is $10.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 4.20. Redwire has a 52 week low of $4.87 and a 52 week high of $26.64. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -6.12 and a beta of 3.15.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Redwire had a negative net margin of 52.36% and a negative return on equity of 9.20%. The company had revenue of $109.03 million during the quarter, compared to analysts' expectations of $126.75 million. As a group, equities analysts forecast that Redwire will post -0.74 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the firm's stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total value of $10,539,792.90. Following the completion of the sale, the director directly owned 147,984 shares in the company, valued at approximately $1,678,138.56. This trade represents a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently made changes to their positions in RDW. Parallel Advisors LLC acquired a new stake in shares of Redwire in the 1st quarter valued at about $28,000. KBC Group NV bought a new stake in Redwire in the 1st quarter valued at about $29,000. Signaturefd LLC raised its stake in Redwire by 211.8% during the 3rd quarter. Signaturefd LLC now owns 3,077 shares of the company's stock worth $32,000 after buying an additional 2,090 shares during the period. GAMMA Investing LLC raised its stake in Redwire by 70.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,213 shares of the company's stock worth $34,000 after buying an additional 1,327 shares during the period. Finally, IFP Advisors Inc raised its stake in Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company's stock worth $44,000 after buying an additional 3,516 shares during the period. Institutional investors and hedge funds own 8.10% of the company's stock.

About Redwire

Redwire Corporation is an aerospace and defense technology company that develops products and services for space missions and national security programs. Its offerings include spacecraft components, deployable solar arrays and antennas, sensors, avionics, and systems used for navigation and communications. The company also provides engineering, spacecraft manufacturing, and in-space research and manufacturing capabilities. Its technologies support government and commercial customers, including satellite operators and space agencies.

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