HC Wainwright Initiates Coverage on Redwire (NYSE:RDW)

Investment analysts at HC Wainwright initiated coverage on shares of Redwire (NYSE:RDW) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $18.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 33.43% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Roth Mkm upped 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. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Redwire in a research note on Monday, September 30th. Alliance Global Partners raised their price objective on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and upped their target price for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Trading Down 2.1 %

NYSE:RDW opened at $13.49 on Tuesday. Redwire has a 12-month low of $2.49 and a 12-month high of $14.40. The firm has a market cap of $897.62 million, a price-to-earnings ratio of -10.87 and a beta of 1.93. The company’s 50-day moving average is $8.61 and its two-hundred day moving average is $7.05.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RDW. SG Americas Securities LLC purchased a new stake in Redwire during the first quarter valued at about $59,000. Vontobel Holding Ltd. acquired a new position in shares of Redwire in the 3rd quarter valued at about $74,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire during the 2nd quarter worth about $74,000. AQR Capital Management LLC purchased a new position in Redwire in the second quarter valued at approximately $89,000. Finally, MetLife Investment Management LLC lifted its position in Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other 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.