B. Riley Issues Pessimistic Forecast for Redwire (NYSE:RDW) Stock Price

Redwire (NYSE:RDW) had its price objective cut by B. Riley from $27.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price objective suggests a potential upside of 144.26% from the company’s current price.

Other analysts have also issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of Redwire in a report on Wednesday. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Redwire in a research report on Tuesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.71.

Redwire Price Performance

Shares of Redwire stock traded down $0.08 on Wednesday, hitting $10.24. The company had a trading volume of 1,617,481 shares, compared to its average volume of 796,455. Redwire has a 52 week low of $3.01 and a 52 week high of $26.66. The company has a market cap of $681.05 million, a PE ratio of -8.51 and a beta of 2.33. The business has a 50-day simple moving average of $18.33 and a 200-day simple moving average of $12.69.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.99, for a total value of $1,526,891.30. Following the transaction, the insider now directly owns 4,603,427 shares in the company, valued at $78,212,224.73. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 684,454 shares of company stock worth $13,682,993 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC grew its holdings in Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares during the period. Federated Hermes Inc. increased its position in shares of Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after acquiring an additional 310,769 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Redwire during the fourth quarter worth $4,830,000. EAM Global Investors LLC bought a new stake in Redwire in the 4th quarter valued at $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new position in Redwire in the 4th quarter worth $3,621,000. Institutional investors own 8.10% of the company’s stock.

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.