Redwire (NYSE:RDW) Stock Rating Reaffirmed by Cantor Fitzgerald

Redwire (NYSE:RDW)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They currently have a $6.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 11.32% from the company’s current price.

Other analysts have also recently issued reports about the company. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Friday. Roth Mkm boosted their price target on Redwire from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Longbow Research boosted their price target on Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Alliance Global Partners boosted their price target on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Redwire has an average rating of “Buy” and an average price target of $7.65.

Redwire Price Performance

RDW stock traded up $0.23 during trading on Friday, hitting $5.39. 472,968 shares of the company traded hands, compared to its average volume of 329,583. The company has a market cap of $353.47 million, a PE ratio of -7.49 and a beta of 1.97. Redwire has a 1 year low of $2.35 and a 1 year high of $8.23. The stock’s 50-day simple moving average is $6.51 and its 200 day simple moving average is $4.74.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $87.79 million during the quarter, compared to analyst estimates of $65.88 million. Research analysts expect that Redwire will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $7.88, for a total transaction of $745,282.52. Following the transaction, the director now owns 35,923,576 shares of the company’s stock, valued at $283,077,778.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 238,732 shares of company stock valued at $1,836,940. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Bank of New York Mellon Corp boosted its stake in Redwire by 496.1% during the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after buying an additional 59,372 shares during the last quarter. SG Americas Securities LLC acquired a new position in Redwire during the first quarter worth $59,000. Rhumbline Advisers lifted its stake in shares of Redwire by 64.7% in the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after purchasing an additional 7,538 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after purchasing an additional 3,681 shares during the last quarter. 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.