Brokers Set Expectations for Redwire Co.'s FY2024 Earnings (NYSE:RDW)

Redwire Co. (NYSE:RDW - Free Report) - Stock analysts at Roth Capital cut their FY2024 earnings per share (EPS) estimates for shares of Redwire in a report released on Thursday, August 15th. Roth Capital analyst S. Desilva now expects that the company will post earnings per share of ($0.59) for the year, down from their prior forecast of ($0.58). The consensus estimate for Redwire's current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Redwire's Q4 2024 earnings at ($0.13) EPS.

A number of other analysts have also recently commented on the stock. Alliance Global Partners lifted their target price on shares of Redwire from $7.00 to $8.25 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Longbow Research upped their target price on Redwire from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Friday, May 10th. B. Riley raised Redwire from a "neutral" rating to a "buy" rating and set a $8.00 price target for the company in a research report on Friday, August 9th. Roth Mkm increased their price objective on Redwire from $5.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 10th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $6.00 price objective on shares of Redwire in a research note on Friday, August 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $7.65.

Redwire Trading Up 2.5 %

Shares of RDW stock traded up $0.17 during trading hours on Monday, reaching $6.92. 641,364 shares of the company's stock were exchanged, compared to its average volume of 334,415. Redwire has a 1 year low of $2.35 and a 1 year high of $8.23. The stock has a market cap of $453.81 million, a PE ratio of -9.61 and a beta of 1.97. The stock's fifty day moving average price is $6.57 and its two-hundred day moving average price is $4.85.

Insider Buying and Selling at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 94,579 shares of the company's stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the sale, the director now owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 238,732 shares of company stock worth $1,836,940. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Redwire during the 1st quarter worth approximately $59,000. Vanguard Group Inc. raised its position in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company's stock worth $4,912,000 after acquiring an additional 3,681 shares during the period. DNB Asset Management AS lifted its holdings in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company's stock valued at $280,000 after purchasing an additional 7,538 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company's stock valued at $512,000 after purchasing an additional 59,372 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company's stock worth $232,000 after purchasing an additional 12,703 shares in the last quarter. 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.