Alliance Global Partners Raises Redwire (NYSE:RDW) Price Target to $8.25

Redwire (NYSE:RDW) had its price target increased by Alliance Global Partners from $7.00 to $8.25 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on the company. Cantor Fitzgerald reissued an overweight rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, July 22nd. Longbow Research upped their price target on Redwire from $5.00 to $6.00 and gave the company a buy rating in a report on Friday, May 10th. Roth Mkm upped their price target on Redwire from $5.00 to $10.00 and gave the company a buy rating in a report on Friday, May 10th. Finally, B. Riley downgraded Redwire from a buy rating to a neutral rating and upped their price target for the company from $6.00 to $8.00 in a report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $7.65.

Redwire Price Performance

Shares of NYSE:RDW opened at $6.58 on Tuesday. The firm has a market capitalization of $431.52 million, a PE ratio of -9.14 and a beta of 1.97. The firm’s 50-day moving average is $6.43 and its two-hundred day moving average is $4.60. Redwire has a 1 year low of $2.35 and a 1 year high of $8.23.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $87.79 million during the quarter, compared to analyst estimates of $65.88 million. Analysts expect that Redwire will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 24,883 shares of the firm’s stock in a transaction on 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 owns 35,708,528 shares of the company’s stock, valued at $253,530,548.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 238,732 shares of company stock valued at $1,836,940. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of RDW. SG Americas Securities LLC increased its position in Redwire by 17.2% during 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 in the last quarter. Vanguard Group Inc. increased its position in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after purchasing an additional 3,681 shares in the last quarter. DNB Asset Management AS increased its position in Redwire by 23.9% during the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after purchasing an additional 7,538 shares in the last quarter. Rhumbline Advisers increased its position in Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after purchasing an additional 12,703 shares in the last quarter. Finally, LA Financiere DE L Echiquier grew its holdings in Redwire by 10.6% in the 4th quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock valued at $1,282,000 after buying an additional 43,000 shares during the period. 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.