Redwire Corporation (NYSE:RDW) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.46.

A number of equities research analysts have recently issued reports on RDW shares. HC Wainwright restated a "buy" rating and set a $26.00 price objective on shares of Redwire in a report on Tuesday, June 24th. Alliance Global Partners restated a "buy" rating on shares of Redwire in a research note on Monday, May 12th. Wall Street Zen lowered Redwire from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Canaccord Genuity Group began coverage on Redwire in a research report on Wednesday. They set a "buy" rating and a $20.00 price objective on the stock. Finally, 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.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC grew its holdings in shares of Redwire by 70.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 20,500 shares of the company's stock worth $334,000 after purchasing an additional 8,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Redwire by 352.8% during the first 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. Strs Ohio bought a new stake in Redwire during the first quarter worth about $69,000. Bluefin Capital Management LLC acquired a new stake in Redwire during the first quarter worth about $167,000. Finally, Sender Co & Partners Inc. bought a new position in Redwire in the 1st quarter valued at about $230,000. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Price Performance

RDW stock opened at $15.65 on Friday. Redwire has a one year low of $4.87 and a one year high of $26.66. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -6.92 and a beta of 2.54. The company has a fifty day moving average price of $15.00 and a two-hundred day moving average price of $14.85.

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

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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