Analysts Set Redwire Co. (NYSE:RDW) Target Price at $7.65

Redwire Co. (NYSE:RDW) has earned an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.65.

Several equities analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price target on shares of Redwire in a research note on Friday, August 9th. Longbow Research raised their price target on shares of Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Alliance Global Partners lifted their target price on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Roth Mkm upped their price target on shares of Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Friday, August 9th.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 56,516 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $7.64, for a total value of $431,782.24. Following the completion of the sale, the director now directly owns 36,018,155 shares in the company, valued at $275,178,704.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 238,732 shares of company stock worth $1,836,940 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Redwire during the 1st quarter valued at about $59,000. The Manufacturers Life Insurance Company purchased a new stake in Redwire in the second quarter valued at $74,000. AQR Capital Management LLC acquired a new position in Redwire in the second quarter valued at about $89,000. Rhumbline Advisers lifted its holdings in shares of Redwire by 64.7% in the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after acquiring an additional 12,703 shares during the last quarter. Finally, LJI Wealth Management LLC acquired a new position in Redwire during the second quarter worth $258,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Price Performance

Shares of RDW stock opened at $6.75 on Friday. The company’s 50-day simple moving average is $6.57 and its two-hundred day simple moving average is $4.85. The company has a market capitalization of $442.66 million, a P/E ratio of -9.38 and a beta of 1.97. Redwire has a one year low of $2.35 and a one year high of $8.23.

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.