Canaccord Genuity Group Boosts Redwire (NYSE:RDW) Price Target to $21.00

Redwire (NYSE:RDW - Get Free Report) had its price target boosted by equities researchers at Canaccord Genuity Group from $20.00 to $21.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 10.21% from the company's previous close.

Other analysts have also recently issued reports about the company. Truist Financial set a $16.00 price objective on Redwire and gave the stock a "hold" rating in a research report on Thursday, June 26th. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Monday, May 12th. HC Wainwright reissued a "buy" rating and issued a $26.00 price objective on shares of Redwire in a research note on Tuesday, June 24th. Roth Capital restated a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. Finally, Wall Street Zen downgraded shares of Redwire from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.61.

Redwire Stock Up 8.9%

Redwire stock traded up $1.56 during mid-day trading on Wednesday, reaching $19.06. 4,925,542 shares of the company's stock were exchanged, compared to its average volume of 1,561,442. The company has a fifty day moving average of $15.47 and a 200-day moving average of $14.88. The company has a market cap of $2.72 billion, a P/E ratio of -8.42 and a beta of 2.54. Redwire has a twelve month low of $4.87 and a twelve month high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $61.40 million during the quarter, compared to analyst estimates of $74.54 million. Equities research analysts expect that Redwire will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. increased its stake in Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock worth $8,202,000 after buying an additional 310,769 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Redwire during the 4th quarter valued at approximately $4,830,000. EAM Global Investors LLC acquired a new position in Redwire during the 4th quarter worth $4,689,000. Goldman Sachs Group Inc. raised its stake in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock valued at $2,945,000 after purchasing an additional 276,814 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in Redwire during the second quarter valued at approximately $3,640,000. 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.