Brokerages Set Redwire Corporation (NYSE:RDW) PT at $13.88

Redwire Corporation (NYSE:RDW) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $12.50.

RDW has been the subject of a number of recent research reports. Truist Financial cut their target price on Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Roth Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Redwire in a report on Thursday, November 6th. Bank of America reduced their target price on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 19th. Industrial Alliance Securities set a $9.00 price target on shares of Redwire in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th.

Redwire Price Performance

NYSE:RDW opened at $7.31 on Monday. Redwire has a one year low of $4.87 and a one year high of $26.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. The stock has a market cap of $1.21 billion, a PE ratio of -2.30 and a beta of 2.48. The stock has a 50 day moving average price of $7.12 and a 200 day moving average price of $10.99.

Insiders Place Their Bets

In other Redwire news, CEO Peter Anthony Cannito, Jr. bought 32,155 shares of Redwire stock in a transaction on Monday, November 10th. The shares were bought at an average price of $6.21 per share, for a total transaction of $199,682.55. Following the completion of the transaction, the chief executive officer directly owned 526,728 shares of the company’s stock, valued at $3,270,980.88. This trade represents a 6.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Chris Edmunds purchased 5,500 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $5.46 per share, for a total transaction of $30,030.00. Following the purchase, the chief accounting officer owned 107,441 shares in the company, valued at approximately $586,627.86. The trade was a 5.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 56,065 shares of company stock worth $330,047 in the last three months. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. AE Industrial Partners LP boosted its position in shares of Redwire by 139.3% during the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after purchasing an additional 49,765,262 shares during the period. Voya Investment Management LLC acquired a new position in Redwire during the third quarter worth $20,372,000. Hood River Capital Management LLC purchased a new position in shares of Redwire during the second quarter worth $36,206,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Redwire in the second quarter valued at $32,652,000. Finally, Two Sigma Investments LP grew its stake in shares of Redwire by 489.3% in the third quarter. Two Sigma Investments LP now owns 1,049,292 shares of the company’s stock valued at $9,433,000 after buying an additional 871,223 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.