Redwire Co. (NYSE:RDW - Get Free Report)'s share price traded up 6.1% during mid-day trading on Wednesday . The company traded as high as $8.23 and last traded at $8.23. 99,110 shares traded hands during trading, a decline of 69% from the average session volume of 322,900 shares. The stock had previously closed at $7.76.
Several research firms recently issued reports on RDW. Alliance Global Partners lifted their price target on shares of Redwire from $7.00 to $8.25 and gave the company a "buy" rating in a research report on Tuesday, July 30th. B. Riley raised shares of Redwire from a "neutral" rating to a "buy" rating and set a $8.00 target price for the company in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $7.65.
View Our Latest Stock Report on Redwire
The firm has a market cap of $547.58 million, a P/E ratio of -11.43 and a beta of 1.96. The business's fifty day simple moving average is $6.56 and its 200-day simple moving average is $5.86.
Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to analyst estimates of $66.86 million. Analysts anticipate that Redwire Co. will post -0.87 earnings per share for the current year.
In related news, Director Ae Red Holdings, Llc sold 24,883 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $7.10, for a total transaction of $176,669.30. Following the transaction, the director now owns 35,708,528 shares in the company, valued at $253,530,548.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company's stock.
A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company bought a new position in Redwire during the second quarter valued at approximately $74,000. Vontobel Holding Ltd. bought a new stake in Redwire in the third quarter worth $74,000. AQR Capital Management LLC purchased a new stake in Redwire during the second quarter valued at $89,000. SG Americas Securities LLC purchased a new position in shares of Redwire in the 1st quarter worth $59,000. Finally, Rhumbline Advisers raised its position in shares of Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company's stock valued at $232,000 after buying an additional 12,703 shares in the last quarter. Institutional investors own 8.10% of the company's stock.
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.
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