Redwire Corporation (NYSE:RDW) Stock Rated “Hold” by Wall Street Analysts

Shares of Redwire Corporation (NYSE:RDW) have earned an average recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $14.69.

Several equities research analysts recently weighed in on RDW shares. Jefferies Financial Group set a $15.00 price target on Redwire in a research note on Sunday, August 9th. Canaccord Genuity Group boosted their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Bank of America upped their price objective on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, August 31st. Finally, Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Redwire Trading Down 4.6%

NYSE RDW opened at $9.76 on Friday. The firm has a market cap of $2.44 billion, a PE ratio of -6.69 and a beta of 3.12. Redwire has a 1-year low of $4.87 and a 1-year high of $26.64. The stock has a 50-day moving average of $11.28 and a 200-day moving average of $11.81. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. As a group, sell-side analysts forecast that Redwire will post -0.7 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 929,435 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the completion of the sale, the director owned 147,984 shares of the company’s stock, valued at $1,678,138.56. This trade represents a 86.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Redwire during the second quarter valued at approximately $196,514,000. Bank of America Corp DE boosted its holdings in shares of Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after purchasing an additional 6,730,414 shares during the period. Van ECK Associates Corp increased its position in shares of Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after purchasing an additional 4,341,424 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Redwire during the 2nd quarter valued at approximately $16,583,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Redwire during the 2nd quarter valued at $11,186,000. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.