Cantor Fitzgerald Reiterates “Overweight” Rating for Redwire (NYSE:RDW)

Cantor Fitzgerald reissued their overweight rating on shares of Redwire (NYSE:RDW) in a report issued on Monday, Benzinga reports. They currently have a $6.00 price objective on the stock.

RDW has been the topic of several other reports. B. Riley raised Redwire from a neutral rating to a buy rating and set a $8.00 price target on the stock in a research note on Friday, August 9th. Alliance Global Partners increased their target price on Redwire from $7.00 to $8.25 and gave the stock a buy rating in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $7.65.

Redwire Trading Up 2.1 %

NYSE:RDW opened at $6.37 on Monday. Redwire has a 12 month low of $2.35 and a 12 month high of $8.23. The company has a 50-day moving average price of $6.60 and a 200-day moving average price of $5.28. The stock has a market cap of $417.74 million, a price-to-earnings ratio of -8.85 and a beta of 1.96.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The business had revenue of $78.11 million during the quarter, compared to analyst estimates of $66.86 million. Equities analysts forecast that Redwire will post -0.87 EPS for the current fiscal year.

Insider Activity

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of Redwire stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $7.88, for a total value of $745,282.52. Following the completion of the sale, the director now owns 35,923,576 shares of the company’s stock, valued at approximately $283,077,778.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold 238,732 shares of company stock valued at $1,836,940 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RDW. Bank of New York Mellon Corp lifted its stake in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after purchasing an additional 59,372 shares during the period. LJI Wealth Management LLC purchased a new position in shares of Redwire during the 2nd quarter worth $258,000. Squarepoint Ops LLC grew its position in shares of Redwire by 59.4% during the 2nd quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after acquiring an additional 26,543 shares during the period. SG Americas Securities LLC bought a new position in Redwire in the 1st quarter worth $59,000. Finally, Rhumbline Advisers lifted its position in Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares in the last quarter. 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.