Redwire (NYSE:RDW) Now Covered by Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group began coverage on shares of Redwire (NYSE:RDW - Get Free Report) in a research note issued on Wednesday,Benzinga reports. The brokerage set a "buy" rating and a $20.00 price target on the stock. Canaccord Genuity Group's target price suggests a potential upside of 31.84% from the company's previous close.

RDW has been the topic of several other reports. HC Wainwright restated a "buy" rating and issued a $26.00 price objective on shares of Redwire in a report on Tuesday, June 24th. B. Riley decreased their price objective on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Truist Financial set a $16.00 target price on shares of Redwire and gave the stock a "hold" rating in a research note on Thursday, June 26th. Wall Street Zen downgraded shares of Redwire from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.46.

Redwire Price Performance

NYSE RDW opened at $15.17 on Wednesday. The firm's 50-day moving average is $14.81 and its two-hundred day moving average is $14.83. Redwire has a 12 month low of $4.87 and a 12 month high of $26.66. The stock has a market capitalization of $2.16 billion, a P/E ratio of -6.71 and a beta of 2.54.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $74.54 million. As a group, analysts anticipate that Redwire will post -0.85 EPS for the current year.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after purchasing an additional 101,620 shares during the last quarter. Barclays PLC raised its stake in Redwire by 6.5% during the 4th quarter. Barclays PLC now owns 1,258,366 shares of the company's stock worth $20,713,000 after acquiring an additional 77,228 shares in the last quarter. Federated Hermes Inc. raised its stake in Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock worth $8,202,000 after acquiring an additional 310,769 shares in the last quarter. LBP AM SA raised its stake in Redwire by 24.8% during the 1st quarter. LBP AM SA now owns 496,230 shares of the company's stock worth $4,114,000 after acquiring an additional 98,616 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock worth $2,945,000 after acquiring an additional 276,814 shares in the last quarter. 8.10% of the stock is 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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