Redwire (NYSE:RDW) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Redwire (NYSE:RDW) from a "strong sell" to a "hold" rating.
• Analysts remain mixed—six Buy, two Hold and two Sell—resulting in an average rating of "Hold" and an average price target of $15.06.
• Insider activity was notable: CEO Peter Cannito Jr. purchased 32,155 shares at about $6.21, while Bain Capital Credit Member II sold 11,000,000 shares at an average of $7.83.

Redwire (NYSE:RDW - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. Bank of America lowered their price target on Redwire from $10.00 to $9.00 and set an "underperform" rating on the stock in a report on Friday, October 10th. Alliance Global Partners restated a "buy" rating on shares of Redwire in a report on Thursday, November 6th. HC Wainwright reiterated a "buy" rating and issued a $22.00 price objective (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Truist Financial lowered their price target on shares of Redwire from $11.00 to $8.00 and set a "hold" rating on the stock in a report on Friday, November 7th. Finally, Canaccord Genuity Group cut their price objective on Redwire from $21.00 to $17.50 and set a "buy" rating for the company in a report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Redwire has an average rating of "Hold" and an average target price of $15.06.

Redwire Stock Down 0.2%

RDW stock opened at $6.16 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.11. The firm has a market capitalization of $886.57 million, a P/E ratio of -1.94 and a beta of 2.45. Redwire has a 52-week low of $5.72 and a 52-week high of $26.66. The company's 50 day simple moving average is $8.43 and its 200-day simple moving average is $11.92.

Insider Transactions at Redwire

In related news, CEO Peter Anthony Cannito, Jr. purchased 32,155 shares of the firm's stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $6.21 per share, for a total transaction of $199,682.55. Following the purchase, the chief executive officer owned 526,728 shares in the company, valued at $3,270,980.88. The trade was a 6.50% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The SEC filing for this sale provides additional information. 2.60% of the stock is owned by insiders.

Institutional Trading of Redwire

Several large investors have recently modified their holdings of RDW. AE Industrial Partners LP grew its stake in Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company's stock valued at $823,472,000 after buying an additional 6,101,959 shares during the last quarter. Vanguard Group Inc. lifted its position in Redwire by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company's stock worth $29,153,000 after acquiring an additional 91,045 shares during the last quarter. Voya Investment Management LLC bought a new stake in Redwire during the third quarter valued at about $20,372,000. Hood River Capital Management LLC acquired a new stake in shares of Redwire in the second quarter valued at about $36,206,000. Finally, Cooper Creek Partners Management LLC bought a new position in shares of Redwire in the second quarter worth about $32,652,000. 8.10% of the stock is owned by institutional investors.

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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