Wall Street Zen Upgrades Redwire (NYSE:RDW) to Hold

Redwire (NYSE:RDW - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other research firms have also recently weighed in on RDW. Roth Capital reissued a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. Canaccord Genuity Group raised their target price on Redwire from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. HC Wainwright restated a "buy" rating and issued a $26.00 target price on shares of Redwire in a research note on Tuesday, June 24th. Truist Financial set a $16.00 price objective on Redwire and gave the company a "hold" rating in a research note on Thursday, June 26th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Redwire currently has an average rating of "Moderate Buy" and an average target price of $19.61.

Redwire Stock Performance

RDW traded down $1.23 during trading on Friday, hitting $16.14. 2,771,507 shares of the stock were exchanged, compared to its average volume of 1,612,523. The firm has a 50 day simple moving average of $15.91 and a 200 day simple moving average of $14.88. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -7.13 and a beta of 2.54. Redwire has a 1 year low of $4.87 and a 1 year high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (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. As a group, equities analysts anticipate that Redwire will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after acquiring an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Redwire in the fourth quarter valued at approximately $4,830,000. EAM Global Investors LLC acquired a new position in Redwire in the fourth quarter valued at approximately $4,689,000. Goldman Sachs Group Inc. lifted its holdings in Redwire by 352.8% in the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock valued at $2,945,000 after acquiring an additional 276,814 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in Redwire in the second quarter valued at approximately $3,640,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.