Redwire (NYSE:RDW) Price Target Cut to $20.00 by Analysts 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 objective lowered by B. Riley from $25.00 to $20.00 in a research note published on Friday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other research firms have also commented on RDW. Truist Financial set a $16.00 target price on Redwire and gave the company a "hold" rating in a report on Thursday, June 26th. Roth Capital reaffirmed a "buy" rating on shares of Redwire in a report on Tuesday, June 24th. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective (down previously from $26.00) on shares of Redwire in a report on Friday. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Monday, May 12th. Finally, Wall Street Zen raised Redwire from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.42.

Redwire Trading Up 8.7%

NYSE:RDW traded up $0.77 during trading hours on Friday, hitting $9.59. The company's stock had a trading volume of 4,964,852 shares, compared to its average volume of 2,809,123. The stock has a market capitalization of $1.37 billion, a P/E ratio of -2.95 and a beta of 2.52. The stock has a fifty day moving average of $16.13 and a 200-day moving average of $14.55. Redwire has a 52-week low of $5.27 and a 52-week high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.39) 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 analysts' expectations of $80.48 million. On average, sell-side analysts forecast that Redwire will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Redwire in the fourth quarter valued at about $33,000. Summit Investment Advisors Inc. lifted its position in Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after purchasing an additional 931 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Redwire during the 1st quarter valued at approximately $42,000. FNY Investment Advisers LLC acquired a new stake in shares of Redwire during the 1st quarter valued at approximately $47,000. Finally, GAMMA Investing LLC lifted its position in shares of Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock valued at $52,000 after acquiring an additional 6,217 shares during the period. 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.