Redwire (NYSE:RDW) Stock Rating Lowered by B. Riley

Redwire (NYSE:RDW) was downgraded by equities researchers at B. Riley from a “buy” rating to a “neutral” rating in a report released on Tuesday, MarketBeat reports. They currently have a $9.50 price target on the stock, up from their previous price target of $8.00. B. Riley’s price target indicates a potential upside of 20.25% from the stock’s previous close.

A number of other research firms have also commented on RDW. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. Alliance Global Partners boosted their price target on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.95.

Redwire Stock Down 5.2 %

Shares of NYSE RDW opened at $7.90 on Tuesday. The stock has a market cap of $525.63 million, a PE ratio of -8.35 and a beta of 1.96. Redwire has a 52-week low of $2.35 and a 52-week high of $9.36. The business has a 50-day moving average price of $7.13 and a 200 day moving average price of $6.18.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The firm had revenue of $78.11 million for the quarter, compared to analyst estimates of $66.86 million. Sell-side analysts anticipate that Redwire will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Redwire

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares during the period. SG Americas Securities LLC boosted its position in shares of Redwire by 17.2% during the 2nd 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. Bank of New York Mellon Corp grew its stake in shares of Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after purchasing an additional 59,372 shares during the period. LJI Wealth Management LLC purchased a new position in shares of Redwire in the 2nd quarter valued at about $258,000. Finally, Rhumbline Advisers lifted its stake in shares of 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 purchasing an additional 12,703 shares during the period. Hedge funds and other institutional investors 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.