Analysts Set Redwire Co. (NYSE:RDW) Target Price at $10.13

Redwire Co. (NYSE:RDW) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.13.

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

Redwire Price Performance

Shares of NYSE RDW opened at $14.71 on Wednesday. The stock has a market capitalization of $978.80 million, a P/E ratio of -12.16 and a beta of 2.17. Redwire has a one year low of $2.69 and a one year high of $18.54. The firm’s 50 day simple moving average is $13.77 and its two-hundred day simple moving average is $9.38.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.02, for a total value of $1,802,000.00. Following the completion of the sale, the insider now owns 4,322,853 shares of the company’s stock, valued at $77,897,811.06. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 267,656 shares of company stock valued at $4,721,852 over the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Redwire during the 3rd quarter valued at about $623,000. State Street Corp boosted its position in Redwire by 8.1% during 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. Barclays PLC boosted its position in Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Redwire during the 3rd quarter worth approximately $139,000. Finally, Geode Capital Management LLC raised its position in shares of Redwire by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after acquiring an additional 30,963 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.