HC Wainwright Initiates Coverage on Redwire (NYSE:RDW)

HC Wainwright initiated coverage on shares of Redwire (NYSE:RDW) in a research note released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $18.00 price objective on the stock. HC Wainwright also issued estimates for Redwire’s Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.83) EPS and FY2025 earnings at ($0.17) EPS.

A number of other equities research analysts also recently weighed in on RDW. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Roth Mkm lifted 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. Alliance Global Partners increased their price objective on shares of Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and raised their target price for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Redwire has an average rating of “Moderate Buy” and an average price target of $10.13.

Redwire Trading Up 3.2 %

RDW stock opened at $13.92 on Tuesday. The firm has a market cap of $926.24 million, a PE ratio of -11.50 and a beta of 1.93. The stock has a 50-day moving average price of $9.04 and a 200-day moving average price of $7.20. Redwire has a 1-year low of $2.49 and a 1-year high of $14.90.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after buying an additional 30,963 shares during the last quarter. Barclays PLC raised its holdings in shares of Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares during the last quarter. State Street Corp lifted its position in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after acquiring an additional 35,519 shares in the last quarter. Stifel Financial Corp acquired a new position in Redwire during the 3rd quarter valued at about $139,000. Finally, MetLife Investment Management LLC increased its holdings in 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 purchasing an additional 7,921 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.