Cantor Fitzgerald Reiterates “Overweight” Rating for Redwire (NYSE:RDW)

Cantor Fitzgerald restated their overweight rating on shares of Redwire (NYSE:RDW) in a report issued on Tuesday,Benzinga reports. The firm currently has a $28.00 price target on the stock.

Several other equities research analysts have also recently commented on RDW. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.50 to $27.00 in a report on Monday, January 27th. HC Wainwright increased their price target on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $18.04.

Redwire Price Performance

Shares of Redwire stock opened at $10.30 on Tuesday. The business has a 50 day simple moving average of $18.33 and a two-hundred day simple moving average of $12.69. Redwire has a 12 month low of $3.01 and a 12 month high of $26.66. The stock has a market capitalization of $685.04 million, a P/E ratio of -8.51 and a beta of 2.33.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total transaction of $243,872.65. Following the completion of the sale, the insider now owns 3,644,566 shares of the company’s stock, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 684,454 shares of company stock valued at $13,682,993 over the last quarter. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC boosted its holdings in Redwire by 16.5% in the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after purchasing an additional 10,558 shares during the period. MetLife Investment Management LLC lifted its holdings in Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after buying an additional 7,921 shares during the last quarter. Stifel Financial Corp purchased a new stake in Redwire during the 3rd quarter worth about $139,000. State Street Corp increased its position in shares of Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after purchasing an additional 35,519 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after purchasing an additional 422,854 shares in the last quarter. 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.