Redwire Co. (NYSE:RDW) Receives Average Rating of “Moderate Buy” from Brokerages

Redwire Co. (NYSE:RDW) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.13.

A number of brokerages have weighed in on RDW. Roth Mkm lifted their price target on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and increased their price target for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Redwire in a research note on Wednesday, December 11th.

Redwire Price Performance

NYSE RDW opened at $13.89 on Friday. Redwire has a 1-year low of $2.68 and a 1-year high of $15.25. The firm has a market capitalization of $924.25 million, a P/E ratio of -11.48 and a beta of 2.25. The business’s 50-day simple moving average is $10.77 and its 200-day simple moving average is $8.02.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in shares of Redwire in the third quarter worth $623,000. Barclays PLC grew its holdings in Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Redwire by 17.2% in the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after purchasing an additional 2,296 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after purchasing an additional 59,372 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Redwire by 64.7% during the second 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 last quarter. 8.10% of the stock is 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.