Redwire (NYSE:RDW) Downgraded by B. Riley to “Neutral”

B. Riley lowered shares of Redwire (NYSE:RDW) from a buy rating to a neutral rating in a research report released on Tuesday, MarketBeat reports. The firm currently has $9.50 price target on the stock, up from their previous price target of $8.00.

Other equities analysts also recently issued research reports about the stock. Alliance Global Partners raised their price objective on shares of Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price target on shares of Redwire in a research note on Monday, September 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.95.

Redwire Trading Up 0.8 %

Shares of RDW opened at $7.75 on Tuesday. The firm has a fifty day simple moving average of $7.18 and a two-hundred day simple moving average of $6.20. The firm has a market cap of $515.69 million, a PE ratio of -7.91 and a beta of 1.96. Redwire has a 1-year low of $2.35 and a 1-year high of $9.36.

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

Institutional Investors Weigh In On Redwire

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after acquiring an additional 2,296 shares during the period. Vanguard Group Inc. lifted its holdings in Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after purchasing an additional 3,681 shares in the last quarter. DNB Asset Management AS boosted its stake in 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 period. The Manufacturers Life Insurance Company purchased a new stake in Redwire during the 2nd quarter valued at approximately $74,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Redwire during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors 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.