Brokerages Set Redwire Co. (NYSE:RDW) Target Price at $17.71

Shares of Redwire Co. (NYSE:RDW) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.71.

RDW has been the topic of several analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. B. Riley dropped their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 150,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $19.61, for a total value of $2,941,500.00. Following the completion of the transaction, the insider now directly owns 4,157,489 shares in the company, valued at approximately $81,528,359.29. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 516,798 shares of company stock worth $10,763,141 in the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. acquired a new position in shares of Redwire during the fourth quarter worth $448,000. Andar Capital Management HK Ltd bought a new stake in shares of Redwire in the 4th quarter valued at about $3,621,000. State Street Corp increased its stake in shares of Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Redwire by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company’s stock worth $1,080,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Brookstone Capital Management acquired a new position in shares of Redwire in the fourth quarter worth approximately $329,000. 8.10% of the stock is owned by institutional investors.

Redwire Price Performance

Shares of NYSE:RDW opened at $7.52 on Monday. The company has a market capitalization of $567.93 million, a P/E ratio of -6.21 and a beta of 2.33. The business’s 50 day simple moving average is $15.81 and its 200 day simple moving average is $13.06. Redwire has a 1 year low of $3.39 and a 1 year high of $26.66.

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.