Redwire (NYSE:RDW) Receives "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright has reduced its target price for Redwire (NYSE:RDW) from $26.00 to $22.00, maintaining a "buy" rating with a potential upside of 137.76%.
• Redwire's stock has recorded a 52-week low of $4.87 and a 52-week high of $26.66, opening at $9.25 recently.
• The company reported a loss of ($0.39) earnings per share last quarter, missing the analysts' estimates, with revenue of $61.76 million versus an anticipated $80.48 million.

Redwire (NYSE:RDW - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a report issued on Friday, Marketbeat.com reports. They presently have a $22.00 price target on the stock, down from their previous price target of $26.00. HC Wainwright's target price suggests a potential upside of 129.77% from the company's current price.

Several other research analysts also recently issued reports on RDW. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research note on Monday, May 12th. Canaccord Genuity Group increased their target price on Redwire from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial set a $16.00 price objective on Redwire and gave the company a "hold" rating in a research report on Thursday, June 26th. Finally, Roth Capital reissued a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. One research 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.42.

Redwire Trading Up 8.6%

NYSE:RDW traded up $0.76 during trading hours on Friday, reaching $9.58. 4,964,852 shares of the company traded hands, compared to its average volume of 2,809,123. The business's 50-day moving average price is $16.13 and its two-hundred day moving average price is $14.55. Redwire has a 1 year low of $5.27 and a 1 year high of $26.66. The stock has a market capitalization of $1.37 billion, a P/E ratio of -2.95 and a beta of 2.52.

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 firm had revenue of $61.76 million during the quarter, compared to analysts' expectations of $80.48 million. As a group, equities analysts anticipate that Redwire will post -0.85 EPS for the current year.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Redwire in the fourth quarter worth approximately $33,000. Summit Investment Advisors Inc. increased its stake in shares of Redwire by 64.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock worth $39,000 after purchasing an additional 931 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Redwire in the 1st quarter worth $42,000. FNY Investment Advisers LLC bought a new position in Redwire in the 1st quarter worth $47,000. Finally, GAMMA Investing LLC lifted its position in Redwire by 69,077.8% during the first quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock valued at $52,000 after purchasing an additional 6,217 shares in the last quarter. 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.