Roth Mkm Issues Positive Forecast for Redwire (NYSE:RDW) Stock Price

Redwire (NYSE:RDW) had its target price raised by analysts at Roth Mkm from $10.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price points to a potential upside of 46.56% from the company’s current price.

Several other research firms have also commented on RDW. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and raised their price target for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Finally, Alliance Global Partners raised their price target on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and an average target price of $8.55.

Redwire Price Performance

NYSE:RDW traded up $0.36 during mid-day trading on Friday, reaching $8.87. 224,034 shares of the company’s stock traded hands, compared to its average volume of 336,805. Redwire has a 12-month low of $2.35 and a 12-month high of $9.36. The firm has a market capitalization of $590.17 million, a price-to-earnings ratio of -9.05 and a beta of 1.93. The company has a 50 day moving average price of $7.32 and a 200-day moving average price of $6.36.

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

Institutional Investors Weigh In On Redwire

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Redwire during the third quarter valued at approximately $623,000. Bank of New York Mellon Corp lifted its holdings in shares of Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after acquiring an additional 59,372 shares during the period. Squarepoint Ops LLC boosted its holdings in Redwire by 59.4% during the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after purchasing an additional 26,543 shares in the last quarter. Finally, DNB Asset Management AS grew its holdings in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after purchasing an additional 7,538 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.