HC Wainwright Initiates Coverage on Redwire (NYSE:RDW)

HC Wainwright started coverage on shares of Redwire (NYSE:RDW) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $18.00 price objective on the stock.

Several other research firms have also weighed in on RDW. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. Alliance Global Partners upped their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Roth Mkm raised their price target on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and upped their price objective for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Stock Up 0.1 %

NYSE:RDW opened at $13.78 on Tuesday. The business’s 50-day moving average price is $8.46 and its 200 day moving average price is $6.99. Redwire has a 52-week low of $2.49 and a 52-week high of $14.40. The firm has a market cap of $916.92 million, a P/E ratio of -11.37 and a beta of 1.93.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Redwire during the 1st quarter worth about $59,000. Vontobel Holding Ltd. acquired a new stake in shares of Redwire during the 3rd quarter worth approximately $74,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire during the 2nd quarter worth approximately $74,000. AQR Capital Management LLC bought a new stake in shares of Redwire during the second quarter worth approximately $89,000. Finally, MetLife Investment Management LLC lifted its holdings in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares during the period. Institutional investors and hedge funds 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.