Redwire (NYSE:RDW) Downgraded to “Neutral” at B. Riley

Redwire (NYSE:RDW – get free report) was downgraded by equity research analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat Ratings reports. They currently have a price target for the stock of $8.00, up from the previous price target of $6.00. The B. Riley price target indicates a potential upside of 14.61% from the company’s previous close.

Several other research firms also issued reports on RDW. Roth Mkm raised their price objective for shares of Redwire from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 10. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price target for shares of Redwire in a research report on Monday, July 15. Finally, Longbow Research raised their price objective for shares of Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, May 10. One investment analyst has rated the stock a “hold,” while five have given the stock a “buy” rating. The company has a consensus rating of “Moderate Buy” and a consensus price target of $7.00 according to MarketBeat.

See our latest stock market report on RDW

Redwire Price Performance

Redwire stock opened at $6.98 on Monday. The company has a 50-day simple moving average of $6.06 and a 200-day simple moving average of $4.37. The stock has a market cap of $457.75 million, a P/E ratio of -9.69, and a beta of 1.97. Redwire’s stock has a 12-month low of $2.35, and a 12-month high of $8.23.

Redwire (NYSE:RDW – Get Free Report) last released its quarterly earnings data on Wednesday, May 8. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $87.79 million for the quarter, compared to analyst estimates of $65.88 million. Analysts, on average, forecast that Redwire will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other Redwire news, Ae Red Holdings, Llc Director sold 56,516 shares of Redwire stock in a transaction on Friday, July 12. The shares were sold at an average price of $7.64, for a total transaction value of $431,782.24. Following the completion of the sale, the director now owns 36,018,155 shares of the company’s stock, valued at approximately $275,178,704.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this link . Insiders sold 213,849 shares of the company’s stock valued at $1,660,271 during the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional investors rate Redwire

Institutional investors and hedge funds recently modified their holdings in the company. SG Americas Securities LLC acquired a new stake in Redwire in Q1 worth $59,000. DNB Asset Management AS increased its position in Redwire by 23.9% in Q2. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after acquiring an additional 7,538 shares in the last quarter. LA Financiere DE L Echiquier increased its position in Redwire by 10.6% in Q4. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock worth $1,282,000 after acquiring an additional 43,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Redwire by 0.3% in Q1. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after acquiring an additional 3,681 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s shares.

Redwire Company Profile

(Download the free report)

Redwire Corporation provides critical space solutions and space infrastructure to government and commercial customers in the United States, Europe and internationally. The company provides avionics and sensors, including star trackers; solar sensors critical to spacecraft navigation and control; camera systems; spacecraft solar array solutions spanning the spectrum of size, power requirements and orbital location; and composite booms, retractable booms, trusses, telescopic bulkheads and deployable booms for positioning sensors or solar arrays remote from the spacecraft.

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