Brokerages Set Redwire Co. (NYSE:RDW) Target Price at $18.04

Redwire Co. (NYSE:RDW) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.04.

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

Redwire Price Performance

Redwire stock opened at $25.68 on Friday. Redwire has a 1-year low of $2.89 and a 1-year high of $26.66. The business has a fifty day moving average price of $17.36 and a 200-day moving average price of $11.27. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -21.23 and a beta of 2.23.

Insiders Place Their Bets

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the sale, the insider now owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 674,339 shares of company stock worth $13,439,120. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Ameritas Investment Partners Inc. grew its stake in Redwire by 64.2% during the 4th quarter. Ameritas Investment Partners Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after acquiring an additional 931 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Redwire in the fourth quarter valued at approximately $63,000. Jones Financial Companies Lllp increased its holdings in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after purchasing an additional 1,372 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Redwire during the third quarter worth approximately $74,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Redwire during the second quarter worth approximately $74,000. 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.