HC Wainwright Estimates Redwire’s FY2024 Earnings (NYSE:RDW)

Redwire Co. (NYSE:RDW) – Equities researchers at HC Wainwright issued their FY2024 earnings estimates for Redwire in a note issued to investors on Tuesday, November 26th. HC Wainwright analyst S. Buck anticipates that the company will post earnings per share of ($0.83) for the year. HC Wainwright has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Redwire’s current full-year earnings is ($0.85) per share. HC Wainwright also issued estimates for Redwire’s Q4 2024 earnings at ($0.18) EPS and FY2025 earnings at ($0.17) EPS.

A number of other equities analysts have also recently commented on RDW. Roth Mkm lifted their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and lifted their target price for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.13.

Redwire Price Performance

Shares of Redwire stock opened at $13.49 on Thursday. The firm’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $7.10. The stock has a market capitalization of $897.62 million, a price-to-earnings ratio of -11.15 and a beta of 1.93. Redwire has a 12 month low of $2.49 and a 12 month high of $14.40.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently bought and sold shares of RDW. Barclays PLC increased its stake in Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after buying an additional 422,854 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Redwire in the 3rd quarter valued at $623,000. Bank of New York Mellon Corp increased its stake in Redwire by 496.1% in the 2nd 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 period. LJI Wealth Management LLC acquired a new position in Redwire in the 2nd quarter valued at $258,000. Finally, State Street Corp increased its stake in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the period. 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.