Redwire Co. (NYSE:RDW) Receives $10.13 Consensus PT from Brokerages

Redwire Co. (NYSE:RDW) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $10.13.

Several analysts recently issued reports on RDW shares. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Roth Mkm upped their price objective on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Finally, HC Wainwright started coverage on Redwire in a research note on Tuesday, November 26th. They set a “buy” rating and a $18.00 price target on the stock.

Redwire Stock Down 4.8 %

NYSE RDW opened at $13.29 on Tuesday. Redwire has a 52 week low of $2.61 and a 52 week high of $15.25. The business’s fifty day simple moving average is $9.17 and its 200-day simple moving average is $7.29. The firm has a market cap of $884.33 million, a PE ratio of -10.98 and a beta of 1.93.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Barclays PLC grew its stake in Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares during the period. Vanguard Group Inc. grew its holdings in Redwire by 0.3% during 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after acquiring an additional 30,963 shares during the last quarter. State Street Corp increased its holdings in Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after purchasing an additional 35,519 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Redwire in the third quarter valued at $623,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.