FY2024 Earnings Forecast for Redwire Issued By HC Wainwright

Redwire Co. (NYSE:RDW) – Stock analysts at HC Wainwright issued their FY2024 EPS estimates for Redwire in a research report issued on Tuesday, November 26th. HC Wainwright analyst S. Buck forecasts that the company will post earnings per share of ($0.83) for the year. HC Wainwright currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for Redwire’s current full-year earnings is ($0.85) per share. HC Wainwright also issued estimates for Redwire’s Q4 2024 earnings at ($0.18) EPS and FY2025 earnings at ($0.17) EPS.

RDW has been the topic of a number of other research reports. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. Finally, Roth Mkm raised their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.13.

Redwire Price Performance

RDW opened at $13.49 on Thursday. The business has a 50 day moving average price of $8.89 and a two-hundred day moving average price of $7.14. The company has a market capitalization of $897.64 million, a price-to-earnings ratio of -11.15 and a beta of 1.93. Redwire has a 1-year low of $2.49 and a 1-year high of $14.40.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Redwire during the 1st quarter worth about $59,000. Vontobel Holding Ltd. acquired a new position in Redwire during the third quarter valued at approximately $74,000. The Manufacturers Life Insurance Company bought a new position in shares of Redwire in the second quarter valued at approximately $74,000. AQR Capital Management LLC bought a new position in shares of Redwire in the second quarter valued at approximately $89,000. Finally, MetLife Investment Management LLC lifted its stake in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after buying an additional 7,921 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

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.