Redwire (NYSE:RDW) Stock Rating Reaffirmed by Cantor Fitzgerald

Redwire (NYSE:RDW)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $6.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential downside of 4.00% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Roth Mkm increased their price objective on shares of Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Longbow Research increased their price target on shares of Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 10th. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Friday, August 9th. Finally, Alliance Global Partners increased their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Redwire has an average rating of “Buy” and an average target price of $7.65.

Redwire Trading Down 1.4 %

Shares of Redwire stock opened at $6.25 on Tuesday. The company has a 50-day moving average of $6.70 and a two-hundred day moving average of $5.16. The stock has a market cap of $409.87 million, a PE ratio of -8.68 and a beta of 1.97. Redwire has a 12-month low of $2.35 and a 12-month high of $8.23.

Redwire (NYSE:RDW) last released 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 company had revenue of $78.11 million during the quarter, compared to analysts’ expectations of $66.86 million. On average, sell-side analysts forecast that Redwire will post -0.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $7.88, for a total transaction of $745,282.52. Following the transaction, the director now owns 35,923,576 shares of the company’s stock, valued at $283,077,778.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 238,732 shares of company stock valued at $1,836,940 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after acquiring an additional 3,681 shares during the last quarter. Bank of New York Mellon Corp increased its position in Redwire by 496.1% during the second 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 last quarter. Squarepoint Ops LLC raised its stake in Redwire by 59.4% during the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock worth $511,000 after purchasing an additional 26,543 shares during the period. DNB Asset Management AS boosted its holdings in shares of Redwire by 23.9% in the 2nd 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. Finally, LJI Wealth Management LLC purchased a new stake in shares of Redwire during the 2nd quarter valued at $258,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.