Redwire (NYSE:RDW) Price Target Raised to $15.00

Key Points

• Canaccord Genuity raised Redwire’s price target to $15.00 from $14.00 and maintained a “buy” rating, implying approximately 10.6% upside from the stock’s $13.56 opening price.
• Analyst sentiment remains mixed: MarketBeat reports a consensus “hold” rating and an average price target of $14.44, despite several recent target increases and buy ratings.
• Redwire exceeded quarterly expectations, reporting a loss of $0.09 per share versus the expected $0.16 loss and revenue of $117.07 million versus the $107.10 million consensus estimate.

Redwire (NYSE:RDW - Get Free Report) had its price objective upped by research analysts at Canaccord Genuity Group from $14.00 to $15.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 10.60% from the stock's current price.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald upped their price target on Redwire from $9.00 to $13.50 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Redwire from a "sell" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday. Weiss Ratings reissued a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $14.44.

Redwire Stock Performance

Shares of RDW opened at $13.56 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. Redwire has a one year low of $4.87 and a one year high of $26.64. The company has a 50-day simple moving average of $12.22 and a two-hundred day simple moving average of $11.32. The firm has a market capitalization of $3.24 billion, a PE ratio of -9.29 and a beta of 3.05.

Redwire (NYSE:RDW - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.07. The firm had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 12.65% and a negative net margin of 57.26%. On average, analysts anticipate that Redwire will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares of the company's stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of RDW. Farther Finance Advisors LLC increased its holdings in shares of Redwire by 4.4% in the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company's stock worth $159,000 after purchasing an additional 877 shares in the last quarter. Parvin Asset Management LLC lifted its holdings in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company's stock valued at $152,000 after purchasing an additional 1,150 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company's stock valued at $102,000 after purchasing an additional 1,533 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Redwire by 12.0% during the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company's stock valued at $495,000 after buying an additional 3,248 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Redwire during the first quarter valued at $28,000. Institutional investors own 8.10% of the company's stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company's offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire's portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.

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