Redwire Co. (NYSE:RDW) Receives $10.13 Average Price Target from Brokerages

Redwire Co. (NYSE:RDW) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.13.

Several equities analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Redwire in a research report on Wednesday, December 11th. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and upped their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. Finally, Roth Mkm increased their price objective on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Redwire Stock Performance

Shares of RDW stock opened at $17.12 on Friday. Redwire has a fifty-two week low of $2.68 and a fifty-two week high of $17.86. The firm has a market cap of $1.14 billion, a P/E ratio of -14.15 and a beta of 2.25. The business’s 50 day moving average price is $11.52 and its 200-day moving average price is $8.38.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its holdings 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 last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Redwire in the third quarter worth $623,000. Bank of New York Mellon Corp boosted its position in shares of Redwire by 496.1% during the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after buying an additional 59,372 shares during the last quarter. LJI Wealth Management LLC bought a new stake in Redwire in the 2nd quarter worth about $258,000. Finally, State Street Corp raised its position in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after buying an additional 35,519 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.