Redwire Corporation (NYSE:RDW) Receives $19.46 Average PT from Brokerages

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $19.46.

Several analysts have weighed in on RDW shares. Wall Street Zen cut Redwire from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Truist Financial set a $16.00 target price on shares of Redwire and gave the company a "hold" rating in a research report on Thursday, June 26th. Canaccord Genuity Group assumed coverage on shares of Redwire in a research note on Wednesday. They issued a "buy" rating and a $20.00 price target for the company. Alliance Global Partners restated a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $26.00 target price on shares of Redwire in a research report on Tuesday, June 24th.

Redwire Trading Up 7.3%

Shares of NYSE RDW traded up $1.15 during mid-day trading on Friday, hitting $16.80. The company had a trading volume of 5,448,620 shares, compared to its average volume of 1,495,472. The stock's 50-day moving average price is $15.10 and its 200-day moving average price is $14.86. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -7.43 and a beta of 2.54. Redwire has a 1 year low of $4.87 and a 1 year high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $61.40 million during the quarter, compared to the consensus estimate of $74.54 million. As a group, equities research analysts forecast that Redwire will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Redwire

Institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after purchasing an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Redwire in the fourth quarter worth $4,830,000. EAM Global Investors LLC purchased a new position in Redwire during the 4th quarter valued at $4,689,000. Goldman Sachs Group Inc. lifted its position in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock worth $2,945,000 after purchasing an additional 276,814 shares during the period. Finally, Andar Capital Management HK Ltd purchased a new stake in shares of Redwire in the 4th quarter worth about $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.