Redwire (NYSE:RDW) Rating Lowered to "Strong Sell" at Wall Street Zen

Key Points

• Redwire has been downgraded from a "hold" to a "strong sell" rating by Wall Street Zen, indicating negative sentiment among analysts.
• The company reported a quarterly EPS of ($0.39), significantly missing the consensus estimate, and achieved revenue of $61.76 million, falling short of the $80.48 million expectation.
• Despite the downgrade, Redwire has a consensus rating of "Moderate Buy" from analysts, with several firms maintaining buy ratings and an average price target of $20.00.

Wall Street Zen cut shares of Redwire (NYSE:RDW - Free Report) from a hold rating to a strong sell rating in a report published on Saturday.

Several other equities analysts also recently issued reports on RDW. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Roth Capital reiterated a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. HC Wainwright cut their price objective on Redwire from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Friday. Canaccord Genuity Group lifted their price objective on Redwire from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Truist Financial set a $16.00 price objective on Redwire and gave the company a "hold" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.00.

Redwire Trading Down 5.2%

RDW stock traded down $0.49 during trading on Friday, hitting $8.98. The company had a trading volume of 9,991,768 shares, compared to its average volume of 5,420,919. The company has a fifty day moving average price of $16.23 and a two-hundred day moving average price of $14.63. The company has a market cap of $1.28 billion, a P/E ratio of -2.76 and a beta of 2.52. Redwire has a fifty-two week low of $5.27 and a fifty-two week high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The company had revenue of $61.76 million during the quarter, compared to analyst estimates of $80.48 million. On average, analysts expect that Redwire will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently made changes to their positions in RDW. Quarry LP bought a new stake in Redwire in the fourth quarter valued at about $33,000. Summit Investment Advisors Inc. increased its holdings in Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after purchasing an additional 931 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Redwire in the first quarter valued at about $42,000. FNY Investment Advisers LLC bought a new stake in Redwire in the first quarter valued at about $47,000. Finally, GAMMA Investing LLC increased its holdings in Redwire by 69,077.8% in the first quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock valued at $52,000 after purchasing an additional 6,217 shares during the last quarter. Institutional investors own 8.10% of the company's stock.

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.