Redwire Corporation (NYSE:RDW) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts have a “Hold” consensus on Redwire, with two sell, four hold, five buy and one strong-buy ratings. The average 12-month price target is $14.69, above the reported $10.88 share price.
• Recent analyst views remain mixed: Cantor Fitzgerald raised its target to $13.50 with an overweight rating, while Bank of America set an $8 target and underperform rating; Guggenheim initiated coverage at neutral.
• Redwire exceeded quarterly expectations, reporting revenue of $117.07 million and an adjusted EPS loss of $0.09 versus the expected $0.16 loss. However, the company remains unprofitable, with a negative net margin of 57.26%, while an insider sold 929,435 shares worth about $10.5 million.

Redwire Corporation (NYSE:RDW - Get Free Report) has received an average recommendation of "Hold" from the twelve ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $14.69.

RDW has been the topic of several recent research reports. Cantor Fitzgerald upped their target price on shares of Redwire from $9.00 to $13.50 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Bank of America lifted their target price on shares of Redwire from $7.00 to $8.00 and gave the stock an "underperform" rating in a research report on Monday, August 31st. Finally, Guggenheim assumed coverage on shares of Redwire in a research note on Monday, September 14th. They set a "neutral" rating on the stock.

Insiders Place Their Bets

In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the sale, the director directly owned 147,984 shares in the company, valued at approximately $1,678,138.56. This represents a 86.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Redwire in the second quarter worth approximately $196,514,000. Van ECK Associates Corp grew its stake in Redwire by 173.0% during the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company's stock worth $83,791,000 after buying an additional 4,341,424 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company's stock worth $57,970,000 after purchasing an additional 6,730,414 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Redwire in the second quarter valued at about $16,583,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Redwire in the 2nd quarter valued at approximately $11,186,000. Institutional investors own 8.10% of the company's stock.

Redwire Stock Up 2.9%

Shares of Redwire stock opened at $10.88 on Friday. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.72 billion, a P/E ratio of -7.45 and a beta of 3.12. The firm's 50 day moving average price is $11.13 and its 200-day moving average price is $11.78. Redwire has a 52-week low of $4.87 and a 52-week high of $26.64.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to analysts' expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, sell-side analysts predict that Redwire will post -0.7 EPS for the current fiscal year.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company's offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.

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