Redwire Corporation (NYSE:RDW) Given Average Recommendation of “Hold” by Brokerages

Redwire Corporation (NYSE:RDW) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $14.25.

A number of equities analysts have issued reports on RDW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Canaccord Genuity Group cut their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. B. Riley reduced their price objective on shares of Redwire from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Finally, Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th.

Redwire Stock Up 1.0%

NYSE:RDW opened at $5.47 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. Redwire has a 12-month low of $5.31 and a 12-month high of $26.66. The stock’s fifty day simple moving average is $8.21 and its 200-day simple moving average is $11.77. The firm has a market capitalization of $902.54 million, a P/E ratio of -1.72 and a beta of 2.46.

Insiders Place Their Bets

In other Redwire news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total value of $86,130,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aaron Michael Futch purchased 18,410 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $5.45 per share, for a total transaction of $100,334.50. Following the transaction, the executive vice president owned 88,704 shares of the company’s stock, valued at $483,436.80. This trade represents a 26.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 56,065 shares of company stock worth $330,047. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

A number of large investors have recently bought and sold shares of RDW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Redwire by 24.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,994 shares of the company’s stock worth $207,000 after buying an additional 4,591 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Redwire during the third quarter worth $726,000. Alliancebernstein L.P. raised its holdings in shares of Redwire by 10.6% during the third quarter. Alliancebernstein L.P. now owns 60,162 shares of the company’s stock worth $541,000 after acquiring an additional 5,762 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Redwire in the 3rd quarter valued at $175,000. Finally, Virtu Financial LLC acquired a new position in Redwire in the 3rd quarter worth $122,000. 8.10% of the stock is owned by 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.