HC Wainwright Has Lowered Expectations for Redwire (NYSE:RDW) Stock Price

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) had its target price reduced by investment analysts at HC Wainwright from $26.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective suggests a potential upside of 137.76% from the stock's current price.

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

Redwire Stock Performance

Shares of NYSE RDW opened at $9.25 on Friday. The company's 50 day moving average price is $16.34 and its 200-day moving average price is $14.82. Redwire has a 52-week low of $4.87 and a 52-week high of $26.66. The company has a market capitalization of $1.32 billion, a P/E ratio of -2.85 and a beta of 2.52.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RDW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Redwire by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company's stock worth $212,000 after acquiring an additional 532 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Redwire by 7.8% in the fourth quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company's stock worth $179,000 after purchasing an additional 782 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Redwire by 64.2% during the 4th 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. Gabelli Funds LLC lifted its holdings in Redwire by 7.4% in the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company's stock worth $156,000 after buying an additional 1,300 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Redwire by 10.4% in the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company's stock worth $302,000 after buying an additional 1,751 shares during the period. Institutional investors own 8.10% of the company's stock.

Redwire Company Profile

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.

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