Redwire (NYSE:RDW) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Redwire (NYSE:RDW) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $6.00 price objective on the stock.

A number of other brokerages have also weighed in on RDW. Alliance Global Partners lifted their price objective on Redwire from $7.00 to $8.25 and gave the stock a buy rating in a research report on Tuesday, July 30th. B. Riley upgraded Redwire from a neutral rating to a buy rating and set a $8.00 price objective on the stock in a research report on Friday, August 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $7.65.

Redwire Price Performance

RDW opened at $6.95 on Monday. The stock’s 50 day simple moving average is $6.42 and its 200 day simple moving average is $5.51. Redwire has a 1 year low of $2.35 and a 1 year high of $8.23. The firm has a market cap of $462.45 million, a price-to-earnings ratio of -9.65 and a beta of 1.96.

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

Insider Buying and Selling at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of Redwire stock in a transaction on Monday, July 15th. The stock was sold at an average price of $7.88, for a total transaction of $745,282.52. Following the completion of the transaction, the director now owns 35,923,576 shares in the company, valued at $283,077,778.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 238,732 shares of company stock worth $1,836,940. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RDW. SG Americas Securities LLC purchased a new position in Redwire during the first quarter valued at $59,000. The Manufacturers Life Insurance Company bought a new position in shares of Redwire during the second quarter valued at $74,000. AQR Capital Management LLC bought a new position in shares of Redwire during the second quarter valued at $89,000. Rhumbline Advisers lifted its holdings in shares of Redwire by 64.7% during 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 in the last quarter. Finally, LJI Wealth Management LLC bought a new position in shares of Redwire during the second quarter valued at $258,000. 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.