Redwire Co. (NYSE:RDW) to Post FY2024 Earnings of ($0.59) Per Share, Roth Capital Forecasts

Redwire Co. (NYSE:RDW) – Analysts at Roth Capital cut their FY2024 earnings per share estimates for Redwire in a research note issued on Thursday, August 15th. Roth Capital analyst S. Desilva now forecasts that the company will post earnings of ($0.59) per share for the year, down from their prior estimate of ($0.58). The consensus estimate for Redwire’s current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Redwire’s Q4 2024 earnings at ($0.13) EPS.

A number of other research firms also recently issued reports on RDW. Roth Mkm boosted their price target on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 10th. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Friday, August 9th. Alliance Global Partners boosted their price objective on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research note on Friday, August 9th. Finally, Longbow Research boosted their price objective on Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Redwire presently has an average rating of “Buy” and an average target price of $7.65.

Redwire Trading Down 7.2 %

RDW stock opened at $6.43 on Monday. The stock has a 50-day moving average price of $6.59 and a two-hundred day moving average price of $4.91. Redwire has a 12-month low of $2.35 and a 12-month high of $8.23. The company has a market cap of $421.35 million, a PE ratio of -8.92 and a beta of 1.97.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new stake in Redwire in the second quarter valued at about $74,000. AQR Capital Management LLC bought a new position in shares of Redwire during the second quarter valued at approximately $89,000. SG Americas Securities LLC bought a new position in shares of Redwire during the first quarter valued at approximately $59,000. Rhumbline Advisers grew its holdings in shares of Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares during the last quarter. Finally, LJI Wealth Management LLC bought a new position in shares of Redwire during the second quarter valued at approximately $258,000. 8.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 24,883 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 35,708,528 shares of the company’s stock, valued at $253,530,548.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 238,732 shares of company stock worth $1,836,940. 2.60% of the stock is currently owned by corporate insiders.

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.