Redwire (NYSE:RDW) Given New $20.00 Price Target at B. Riley

Key Points

• B. Riley has decreased its price target for Redwire's stock from $25.00 to $20.00, while still maintaining a "buy" rating, indicating a potential upside of 119.03%.
• Redwire reported a quarterly earnings miss, with a loss of ($0.39) per share, falling short of the consensus estimate of ($0.11), alongside revenue of $61.76 million against expected $80.48 million.
• Institutional investors, including Vanguard and Goldman Sachs, have recently increased their stakes in Redwire, reflecting investor confidence despite the company's current challenges.

Redwire (NYSE:RDW - Free Report) had its price target decreased by B. Riley from $25.00 to $20.00 in a research report sent to investors on Friday,Benzinga reports. B. Riley currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Roth Capital restated a "buy" rating on shares of Redwire in a report on Tuesday, June 24th. Alliance Global Partners restated a "buy" rating on shares of Redwire in a report on Monday, May 12th. HC Wainwright reduced their target price on Redwire from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Friday. Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Canaccord Genuity Group raised their target price on Redwire from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Redwire Trading Down 5.2%

Redwire stock traded down $0.49 during mid-day trading on Friday, hitting $8.98. The stock had a trading volume of 9,991,768 shares, compared to its average volume of 5,192,349. The stock has a 50-day simple moving average of $16.23 and a two-hundred day simple moving average of $14.68. The stock has a market capitalization of $1.28 billion, a PE ratio of -2.76 and a beta of 2.52. Redwire has a 12 month low of $5.27 and a 12 month high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The company had revenue of $61.76 million during the quarter, compared to analyst estimates of $80.48 million. Sell-side analysts expect that Redwire will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently modified their holdings of RDW. Quarry LP bought a new position in shares of Redwire during the 4th quarter valued at about $33,000. Summit Investment Advisors Inc. raised its position in Redwire by 64.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after buying an additional 931 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Redwire in the 1st quarter valued at approximately $42,000. FNY Investment Advisers LLC acquired a new stake in Redwire in the 1st quarter valued at approximately $47,000. Finally, GAMMA Investing LLC raised its position in Redwire by 69,077.8% in the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock valued at $52,000 after buying an additional 6,217 shares during the last quarter. 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.