Redwire Co. to Post FY2024 Earnings of ($0.59) Per Share, Roth Capital Forecasts (NYSE:RDW)

Redwire Co. (NYSE:RDW) – Investment analysts at Roth Capital reduced their FY2024 earnings per share estimates for shares of Redwire in a note issued to investors on Thursday, August 15th. Roth Capital analyst S. Desilva now anticipates that the company will post earnings of ($0.59) per share for the year, down from their prior estimate of ($0.58). The consensus estimate for Redwire’s current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Redwire’s Q4 2024 earnings at ($0.13) EPS.

Several other brokerages have also recently issued reports on RDW. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a report on Friday, August 9th. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Friday, August 9th. Roth Mkm boosted their price objective on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 10th. Longbow Research lifted their price target on Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Alliance Global Partners lifted their price target on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $7.65.

Redwire Stock Performance

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

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 238,732 shares of company stock worth $1,836,940. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Redwire by 0.3% in 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 in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Redwire in the first quarter valued at approximately $59,000. DNB Asset Management AS grew its position in shares of Redwire by 23.9% in 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 in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire in the second quarter valued at approximately $74,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Redwire in the second quarter valued at approximately $89,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.