Redwire (NYSE:RDW) Stock Price Expected to Rise, Roth Mkm Analyst Says

Redwire (NYSE:RDW) had its price target upped by research analysts at Roth Mkm from $10.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price target suggests a potential upside of 44.12% from the stock’s previous close.

A number of other research firms have also commented on RDW. Alliance Global Partners raised their price target on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Redwire in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.55.

Redwire Stock Performance

RDW opened at $9.02 on Friday. The firm’s fifty day moving average is $7.36 and its two-hundred day moving average is $6.41. The firm has a market cap of $600.19 million, a PE ratio of -7.45 and a beta of 1.93. Redwire has a twelve month low of $2.35 and a twelve month high of $9.36.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The company had revenue of $78.11 million during the quarter, compared to analyst estimates of $66.86 million. Equities analysts forecast that Redwire will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently made changes to their positions in RDW. SG Americas Securities LLC grew its position in Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after purchasing an additional 2,296 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Redwire by 0.3% in the 1st quarter. 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 in the last quarter. DNB Asset Management AS increased its position in shares of Redwire by 23.9% in the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after acquiring an additional 7,538 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Redwire during the second quarter worth about $74,000. Finally, Vontobel Holding Ltd. acquired a new position in Redwire during the third quarter valued at approximately $74,000. 8.10% of the stock is owned by 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.