Longbow Research Boosts Redwire (NYSE:RDW) Price Target to $6.00

Redwire (NYSE:RDW) had its price target increased by equities research analysts at Longbow Research from $5.00 to $6.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Longbow Research’s target price would indicate a potential upside of 29.87% from the company’s current price.

Several other equities analysts also recently commented on RDW. Cantor Fitzgerald upped their price objective on Redwire from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday. Roth Mkm raised their price target on Redwire from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $6.75.

Redwire Stock Performance

Shares of NYSE:RDW traded up $0.25 during midday trading on Friday, reaching $4.62. The company’s stock had a trading volume of 91,402 shares, compared to its average volume of 213,690. The firm has a market capitalization of $302.98 million, a price-to-earnings ratio of -6.33 and a beta of 1.77. The firm has a 50 day moving average price of $3.83 and a two-hundred day moving average price of $3.18. Redwire has a fifty-two week low of $2.35 and a fifty-two week high of $4.79.

Redwire (NYSE:RDW) last issued its earnings results on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). The company had revenue of $63.49 million during the quarter, compared to analyst estimates of $60.97 million. As a group, research analysts anticipate that Redwire will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Redwire stock. SG Americas Securities LLC acquired a new position in Redwire Co. (NYSE:RDW) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,374 shares of the company’s stock, valued at approximately $59,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.