Cantor Fitzgerald Reaffirms Overweight Rating for Redwire (NYSE:RDW)

Redwire (NYSE:RDW)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They currently have a $6.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential downside of 6.40% from the stock’s previous close.

Several other analysts have also recently weighed in on RDW. Alliance Global Partners boosted their price target on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $7.65.

Redwire Trading Down 6.7 %

Shares of NYSE RDW opened at $6.41 on Monday. The company has a market cap of $420.36 million, a price-to-earnings ratio of -9.54 and a beta of 1.96. The stock has a 50-day moving average price of $6.42 and a two-hundred day moving average price of $5.60. Redwire has a 12 month low of $2.35 and a 12 month high of $8.23.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The firm had revenue of $78.11 million during the quarter, compared to the consensus estimate of $66.86 million. On average, sell-side analysts predict that Redwire will post -0.87 earnings per share for the current year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 56,516 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $7.64, for a total value of $431,782.24. Following the sale, the director now directly owns 36,018,155 shares in the company, valued at $275,178,704.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 238,732 shares of company stock worth $1,836,940 over the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new position in Redwire in the second quarter valued at approximately $74,000. AQR Capital Management LLC acquired a new position in Redwire in the second quarter valued at approximately $89,000. Squarepoint Ops LLC lifted its stake in Redwire by 59.4% in the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after buying an additional 26,543 shares during the period. LJI Wealth Management LLC acquired a new position in Redwire in the second quarter valued at approximately $258,000. Finally, Rhumbline Advisers lifted its stake in Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after buying an additional 12,703 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

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.