Redwire Co. (NYSE:RDW) Receives $18.04 Consensus Price Target from Brokerages

Shares of Redwire Co. (NYSE:RDW) have received an average recommendation of “Buy” from the six analysts that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.04.

A number of equities analysts have issued reports on RDW shares. HC Wainwright upped their target price on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Cantor Fitzgerald started coverage on shares of Redwire in a research report on Friday, January 24th. They issued an “overweight” rating and a $28.00 target price for the company. Finally, Roth Mkm increased their price target on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the transaction, the insider now directly owns 4,603,427 shares of the company’s stock, valued at approximately $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 674,339 shares of company stock valued at $13,439,120. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Redwire by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock worth $21,573,000 after purchasing an additional 101,620 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Redwire in the 4th quarter worth $191,000. Sei Investments Co. boosted its stake in Redwire by 146.6% during the fourth quarter. Sei Investments Co. now owns 24,664 shares of the company’s stock valued at $406,000 after buying an additional 14,664 shares in the last quarter. Quantbot Technologies LP acquired a new position in Redwire during the fourth quarter worth about $154,000. Finally, Andar Capital Management HK Ltd bought a new stake in Redwire in the fourth quarter worth about $3,621,000. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Trading Down 7.3 %

NYSE RDW opened at $21.92 on Friday. The stock has a market cap of $1.46 billion, a P/E ratio of -18.12 and a beta of 2.23. The company’s fifty day simple moving average is $16.94 and its 200-day simple moving average is $11.07. Redwire has a 52 week low of $2.89 and a 52 week high of $26.66.

About Redwire

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.