Redwire Co. (NYSE:RDW) Receives $10.13 Average Price Target from Analysts

Shares of Redwire Co. (NYSE:RDW) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.13.

Several research analysts have recently commented on RDW shares. Roth Mkm raised their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Redwire in a research report on Wednesday, December 11th. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th.

Redwire Price Performance

Shares of Redwire stock opened at $15.07 on Friday. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -12.45 and a beta of 2.25. The business has a 50-day moving average of $11.04 and a 200 day moving average of $8.19. Redwire has a 12 month low of $2.68 and a 12 month high of $15.25.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. SG Americas Securities LLC grew its stake in shares of Redwire by 17.2% during the second 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. MetLife Investment Management LLC boosted its position in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after acquiring an additional 7,921 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Redwire in the 2nd quarter valued at about $74,000. Penserra Capital Management LLC raised its position in shares of Redwire by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after acquiring an additional 10,558 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Redwire during the third quarter worth approximately $74,000. 8.10% of the stock is currently 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.