HC Wainwright Forecasts Strong Price Appreciation for Redwire (NYSE:RDW) Stock

Redwire (NYSE:RDW) had its price target raised by HC Wainwright from $18.00 to $26.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the company. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and boosted their price target for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Roth Mkm upped their price objective on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.13.

Redwire Stock Performance

Shares of RDW opened at $21.18 on Wednesday. The stock has a fifty day moving average of $14.78 and a two-hundred day moving average of $9.85. The company has a market capitalization of $1.41 billion, a PE ratio of -17.51 and a beta of 2.17. Redwire has a fifty-two week low of $2.76 and a fifty-two week high of $23.35.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 417,656 shares of company stock valued at $7,663,352. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new position in Redwire in the 4th quarter valued at about $165,000. The Manufacturers Life Insurance Company purchased a new position in Redwire in the 2nd quarter valued at about $74,000. Vontobel Holding Ltd. purchased a new position in Redwire in the 3rd quarter valued at about $74,000. AQR Capital Management LLC bought a new position in shares of Redwire during the second quarter worth about $89,000. Finally, MetLife Investment Management LLC lifted its position in shares of Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.