Redwire Corporation (NYSE:RDW) Receives $20.05 Average PT from Brokerages

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) have received an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.05.

A number of research firms have weighed in on RDW. Wall Street Zen lowered Redwire from a "hold" rating to a "sell" rating in a report on Saturday. B. Riley reduced their price objective on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 target price on shares of Redwire in a research note on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and issued a $26.00 price target on shares of Redwire in a report on Wednesday, March 12th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Monday, May 12th.

Redwire Stock Performance

RDW traded down $3.83 during mid-day trading on Monday, reaching $16.75. 17,261,777 shares of the stock were exchanged, compared to its average volume of 1,292,413. The company has a 50 day moving average price of $13.04 and a two-hundred day moving average price of $14.50. Redwire has a 1 year low of $4.87 and a 1 year high of $26.66. The stock has a market capitalization of $1.29 billion, a PE ratio of -7.41 and a beta of 2.53.

Redwire (NYSE:RDW - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $61.40 million for the quarter, compared to analysts' expectations of $74.54 million. Sell-side analysts expect that Redwire will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RDW. Federated Hermes Inc. boosted its stake in shares of Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock worth $8,202,000 after acquiring an additional 310,769 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Redwire in the 4th quarter worth approximately $4,830,000. EAM Global Investors LLC purchased a new stake in Redwire during the 4th quarter valued at approximately $4,689,000. Goldman Sachs Group Inc. raised its position in shares of Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock valued at $2,945,000 after buying an additional 276,814 shares during the last quarter. Finally, Andar Capital Management HK Ltd bought a new position in shares of Redwire during the fourth quarter worth $3,621,000. 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.