Redwire (NYSE:RDW) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Redwire (NYSE:RDW) in a research note published on Monday, Benzinga reports. The firm currently has a $6.00 price objective on the stock.

A number of other research analysts have also recently issued reports on RDW. Alliance Global Partners boosted their target price on Redwire from $7.00 to $8.25 and gave the company a buy rating in a research note on Tuesday, July 30th. B. Riley raised Redwire from a neutral rating to a buy rating and set a $8.00 target price for the company in a research note on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $7.65.

Redwire Trading Down 0.4 %

NYSE RDW opened at $6.92 on Monday. The stock has a 50-day simple moving average of $6.42 and a 200 day simple moving average of $5.52. The company has a market capitalization of $460.46 million, a PE ratio of -9.61 and a beta of 1.96. Redwire has a 12 month low of $2.35 and a 12 month high of $8.23.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The business had revenue of $78.11 million during the quarter, compared to analysts’ expectations of $66.86 million. As a group, sell-side analysts predict that Redwire will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 94,579 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $7.88, for a total transaction of $745,282.52. Following the completion of the transaction, the director now directly owns 35,923,576 shares of the company’s stock, valued at $283,077,778.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 238,732 shares of company stock valued at $1,836,940 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Redwire by 17.2% during the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after buying an additional 2,296 shares during the period. Vanguard Group Inc. boosted its position in Redwire by 0.3% during the first 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. DNB Asset Management AS boosted its position in Redwire by 23.9% during the second 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. The Manufacturers Life Insurance Company acquired a new position in Redwire during the second quarter valued at approximately $74,000. Finally, AQR Capital Management LLC acquired a new position in Redwire during the second quarter valued at approximately $89,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.