Redwire Corporation (NYSE:RDW) Receives $20.05 Average Target Price from Analysts

Shares of Redwire Corporation (NYSE:RDW) have earned an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.05.

Several research firms have recently weighed in on RDW. Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Monday, May 12th. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. Finally, B. Riley cut their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th.

Institutional Trading of Redwire

Hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of Redwire during the 4th quarter worth approximately $33,000. Summit Investment Advisors Inc. grew its stake in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after acquiring an additional 931 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Redwire during the 4th quarter worth approximately $63,000. Jones Financial Companies Lllp grew its stake in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Redwire during the 1st quarter worth approximately $42,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Redwire Stock Performance

Shares of RDW stock opened at $16.63 on Monday. Redwire has a 52-week low of $4.87 and a 52-week high of $26.66. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -7.36 and a beta of 2.53. The firm has a fifty day moving average of $13.17 and a 200-day moving average of $14.51.

Redwire (NYSE:RDW) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $61.40 million during the quarter, compared to the consensus estimate of $74.54 million. On average, sell-side analysts predict that Redwire will post -0.85 earnings per share for the current year.

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.