Redwire (NYSE:RDW) Receives “Buy” Rating from Roth Capital

Roth Capital reaffirmed their buy rating on shares of Redwire (NYSE:RDW) in a report published on Wednesday, PriceTargets.com reports.

Separately, Roth Mkm began coverage on Redwire in a research note on Wednesday. They issued a buy rating and a $10.00 price objective on the stock.

Redwire Stock Up 21.2 %

NYSE:RDW opened at $4.12 on Wednesday. The stock has a market capitalization of $266.85 million, a price-to-earnings ratio of -4.43 and a beta of 1.78. Redwire has a 52 week low of $1.67 and a 52 week high of $4.58. The stock’s fifty day moving average is $3.30 and its two-hundred day moving average is $3.02.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $58.23 million. Redwire had a negative return on equity of 530.39% and a negative net margin of 23.49%. During the same period last year, the firm earned $0.06 earnings per share. On average, sell-side analysts expect that Redwire will post -0.63 EPS for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 26,774 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $3.66, for a total value of $97,992.84. Following the transaction, the director now owns 36,259,074 shares of the company’s stock, valued at $132,708,210.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 178,411 shares of company stock valued at $615,889 over the last quarter. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently made changes to their positions in RDW. Signaturefd LLC grew its holdings in shares of Redwire by 35.3% during the second quarter. Signaturefd LLC now owns 794,308 shares of the company’s stock worth $2,025,000 after purchasing an additional 207,037 shares during the last quarter. State Street Corp grew its holdings in shares of Redwire by 250.2% during the second quarter. State Street Corp now owns 226,615 shares of the company’s stock worth $689,000 after purchasing an additional 161,900 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Redwire by 297.0% during the second quarter. Nuveen Asset Management LLC now owns 174,734 shares of the company’s stock worth $446,000 after purchasing an additional 130,720 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Redwire by 426.7% during the second quarter. Northern Trust Corp now owns 159,878 shares of the company’s stock worth $486,000 after buying an additional 129,524 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Redwire by 882.2% during the second quarter. Cubist Systematic Strategies LLC now owns 117,515 shares of the company’s stock worth $357,000 after buying an additional 105,551 shares during the period. Hedge funds and other institutional investors own 9.10% of the company’s stock.

About Redwire

Redwire Corporation operates as a space infrastructure company in the United States, Netherlands, Luxemburg, the United Kingdom, Italy, Germany, Spain, South Korea, Poland, and internationally. It provides critical space solutions and reliability components for solar power generation, in-space 3D printing and manufacturing, avionics, critical components, sensors, digital engineering, and space-based biotechnology.