FY2024 Earnings Forecast for Redwire Issued By HC Wainwright

Redwire Co. (NYSE:RDW) – Investment analysts at HC Wainwright issued their FY2024 EPS estimates for shares of Redwire in a research note issued on Tuesday, November 26th. HC Wainwright analyst S. Buck anticipates that the company will post earnings per share of ($0.83) for the year. HC Wainwright has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Redwire’s current full-year earnings is ($0.85) per share. HC Wainwright also issued estimates for Redwire’s Q4 2024 earnings at ($0.18) EPS and FY2025 earnings at ($0.17) EPS.

RDW has been the subject of several other research reports. Roth Mkm boosted their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. Finally, B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Stock Down 2.1 %

Shares of NYSE RDW opened at $13.49 on Thursday. The stock’s 50 day moving average price is $8.89 and its two-hundred day moving average price is $7.14. Redwire has a 52-week low of $2.49 and a 52-week high of $14.40. The stock has a market capitalization of $897.64 million, a P/E ratio of -11.15 and a beta of 1.93.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in Redwire during the 3rd quarter valued at about $623,000. Vanguard Group Inc. raised its holdings in shares of Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after buying an additional 3,681 shares during the last quarter. SG Americas Securities LLC boosted its position 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 buying an additional 2,296 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Redwire by 496.1% during the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after buying an additional 59,372 shares during the period. Finally, Rhumbline Advisers grew its holdings in Redwire by 64.7% in the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after buying an additional 12,703 shares in the last quarter. 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.