Redwire’s (RDW) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Redwire (NYSE:RDW) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $6.00 price objective on the stock.

Several other analysts also recently weighed in on RDW. Longbow Research lifted their target price on shares of Redwire from $5.00 to $6.00 and gave the company a buy rating in a report on Friday, May 10th. Roth Mkm lifted their target price on shares of Redwire from $5.00 to $10.00 and gave the company a buy rating in a report on Friday, May 10th. Alliance Global Partners lifted their target price on shares of Redwire from $7.00 to $8.25 and gave the company a buy rating in a report on Tuesday, July 30th. Finally, B. Riley raised shares of Redwire from a neutral rating to a buy rating and set a $8.00 target price on the stock in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Redwire presently has an average rating of Buy and an average target price of $7.65.

Redwire Stock Down 0.4 %

Shares of NYSE:RDW opened at $5.37 on Friday. The company has a market cap of $352.16 million, a price-to-earnings ratio of -7.46 and a beta of 1.97. The firm’s 50-day simple moving average is $6.51 and its 200-day simple moving average is $4.75. Redwire has a fifty-two week low of $2.35 and a fifty-two week high of $8.23.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $7.88, for a total transaction of $745,282.52. Following the sale, the director now owns 35,923,576 shares of the company’s stock, valued at $283,077,778.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 238,732 shares of company stock valued at $1,836,940. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDW. SG Americas Securities LLC acquired a new position in Redwire during the first quarter worth about $59,000. Rhumbline Advisers raised its position in Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after acquiring an additional 12,703 shares during the last quarter. LJI Wealth Management LLC acquired a new position in Redwire during the second quarter worth about $258,000. DNB Asset Management AS raised its position in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after acquiring an additional 7,538 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after buying an additional 59,372 shares during the last quarter. Institutional investors and hedge funds 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.