Redwire Corporation (NYSE:RDW) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Redwire Corporation (NYSE:RDW) holds an average rating of “Moderate Buy” from ten analysts, with seven buy ratings, two sell ratings, and one hold rating.
• The company's stock has seen a significant drop, with its price target adjusted from $26.00 to $22.00 by HC Wainwright, while reports indicate an average 12-month price objective of $17.21.
• Redwire posted disappointing earnings, reporting a loss of ($0.39) earnings per share, missing the consensus estimate of ($0.11) by a wide margin.

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) have received an average rating of "Moderate Buy" from the ten ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $17.2143.

RDW has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Redwire in a research report on Wednesday, October 8th. HC Wainwright reiterated a "buy" rating and set a $22.00 target price (down from $26.00) on shares of Redwire in a research report on Friday, August 8th. Wall Street Zen downgraded Redwire from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Roth Capital restated a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. Finally, Canaccord Genuity Group lowered their price objective on Redwire from $21.00 to $17.50 and set a "buy" rating on the stock in a research report on Monday, August 11th.

Redwire Price Performance

NYSE RDW opened at $7.96 on Friday. The company has a market capitalization of $1.15 billion, a PE ratio of -2.45 and a beta of 2.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.46. The business's fifty day moving average is $8.98 and its 200 day moving average is $12.13. Redwire has a fifty-two week low of $6.61 and a fifty-two week high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The company had revenue of $61.76 million for the quarter, compared to analysts' expectations of $80.48 million. Redwire had a negative net margin of 71.95% and a negative return on equity of 32.67%. Sell-side analysts predict that Redwire will post -0.85 earnings per share for the current year.

Insider Activity at Redwire

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total value of $86,130,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Several large investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS purchased a new stake in shares of Redwire in the first quarter worth about $42,000. GAMMA Investing LLC lifted its position in shares of Redwire by 69,077.8% in the first quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock worth $52,000 after buying an additional 6,217 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Redwire in the second quarter worth about $54,000. SBI Securities Co. Ltd. lifted its position in shares of Redwire by 1,172.5% in the first quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company's stock worth $67,000 after buying an additional 7,469 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Redwire by 656.7% in the first quarter. New York State Common Retirement Fund now owns 8,066 shares of the company's stock worth $67,000 after buying an additional 7,000 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.

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