Redwire (NYSE:RDW) Coverage Initiated at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Redwire (NYSE:RDW - Free Report) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $20.00 target price on the stock.

Other equities analysts have also issued reports about the company. B. Riley lowered their target price on Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Wall Street Zen lowered Redwire from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. Roth Capital reissued a "buy" rating on shares of Redwire in a report on Tuesday, June 24th. Finally, HC Wainwright reissued a "buy" rating and issued a $26.00 price objective on shares of Redwire in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.46.

Redwire Trading Up 7.3%

Redwire stock traded up $1.15 during midday trading on Wednesday, hitting $16.80. The stock had a trading volume of 5,448,620 shares, compared to its average volume of 1,499,395. The stock has a market cap of $2.40 billion, a P/E ratio of -7.43 and a beta of 2.54. The business has a fifty day moving average price of $15.10 and a 200 day moving average price of $14.86. Redwire has a 12 month low of $4.87 and a 12 month high of $26.66.

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 company had revenue of $61.40 million for the quarter, compared to the consensus estimate of $74.54 million. On average, equities analysts anticipate that Redwire will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in RDW. Bank of New York Mellon Corp lifted its position in Redwire by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company's stock worth $859,000 after purchasing an additional 3,357 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Redwire during the 4th quarter valued at $278,000. US Bancorp DE acquired a new stake in shares of Redwire during the 4th quarter valued at $119,000. Jones Financial Companies Lllp lifted its position in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock valued at $72,000 after acquiring an additional 1,372 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Redwire by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company's stock valued at $1,080,000 after acquiring an additional 2,533 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.