Redwire Corporation (NYSE:RDW) Given Average Rating of "Moderate Buy" by Analysts

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $21.50.

Several research firms recently commented on RDW. HC Wainwright restated a "buy" rating and issued a $26.00 target price on shares of Redwire in a research report on Tuesday, June 24th. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Canaccord Genuity Group lifted their price target on Redwire from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. 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 target on Redwire and gave the company a "hold" rating in a research report on Thursday, June 26th.

Redwire Price Performance

RDW opened at $14.82 on Tuesday. Redwire has a 12 month low of $4.87 and a 12 month high of $26.66. The stock has a market cap of $2.11 billion, a P/E ratio of -6.56 and a beta of 2.52. The stock's 50 day moving average price is $16.50 and its 200 day moving average price is $14.87.

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

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently modified their holdings of RDW. Quarry LP acquired a new position in shares of Redwire in the 4th quarter worth $33,000. Summit Investment Advisors Inc. grew its holdings 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 acquiring an additional 931 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Redwire in the 1st quarter worth $42,000. FNY Investment Advisers LLC acquired a new position in shares of Redwire in the 1st quarter worth $47,000. Finally, GAMMA Investing LLC grew its holdings in shares of Redwire by 69,077.8% in the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock worth $52,000 after acquiring an additional 6,217 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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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