Redwire (NYSE:RDW) Given Overweight Rating at Cantor Fitzgerald

Redwire (NYSE:RDW)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $6.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 7.55% from the company’s current price.

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

Redwire Price Performance

Shares of NYSE:RDW traded down $0.14 during trading on Monday, hitting $6.49. 48,260 shares of the company’s stock were exchanged, compared to its average volume of 323,358. The business’s 50-day simple moving average is $6.49 and its 200 day simple moving average is $5.45. Redwire has a 52-week low of $2.35 and a 52-week high of $8.23. The company has a market cap of $425.61 million, a price-to-earnings ratio of -9.01 and a beta of 1.96.

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

Insiders Place Their Bets

In other news, Director Ae Red Holdings, Llc sold 24,883 shares of Redwire stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $7.10, for a total value of $176,669.30. Following the completion of the transaction, the director now owns 35,708,528 shares in the company, valued at approximately $253,530,548.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 238,732 shares of company stock valued at $1,836,940 over the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Redwire during the 1st quarter valued at $59,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire in the second quarter valued at approximately $74,000. AQR Capital Management LLC bought a new position in Redwire in the second quarter worth approximately $89,000. Rhumbline Advisers increased its holdings in Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after purchasing an additional 12,703 shares during the period. Finally, LJI Wealth Management LLC bought a new stake in Redwire during the 2nd quarter valued at $258,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.