Redwire Co. (NYSE:RDW) Given Consensus Rating of “Buy” by Analysts

Shares of Redwire Co. (NYSE:RDW) have earned an average rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.04.

Several analysts recently weighed in on the company. Roth Mkm increased their price target on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald assumed coverage on Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 price target on the stock. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.50 to $27.00 in a report on Monday, January 27th. Finally, HC Wainwright increased their price target on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the sale, the insider now owns 3,644,566 shares in the company, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 684,454 shares of company stock worth $13,682,993 over the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after buying an additional 532 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Redwire by 7.8% during the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock worth $179,000 after buying an additional 782 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after buying an additional 931 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after buying an additional 1,372 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Redwire during the 4th quarter worth $33,000. Institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

Shares of RDW opened at $14.19 on Thursday. The stock has a market capitalization of $944.48 million, a price-to-earnings ratio of -11.73 and a beta of 2.23. Redwire has a 1 year low of $2.98 and a 1 year high of $26.66. The business’s 50 day simple moving average is $18.78 and its 200-day simple moving average is $12.51.

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.