B. Riley Downgrades Redwire (NYSE:RDW) to Neutral

Redwire (NYSE:RDW - Get Free Report) was downgraded by stock analysts at B. Riley from a "buy" rating to a "neutral" rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $9.50 price objective on the stock, up from their prior price objective of $8.00. B. Riley's price target points to a potential upside of 13.23% from the company's current price.

Several other equities analysts have also recently issued reports on RDW. Cantor Fitzgerald reissued an "overweight" rating and issued a $6.00 price objective on shares of Redwire in a report on Monday, September 30th. Alliance Global Partners raised their price target on shares of Redwire from $7.00 to $8.25 and gave the company a "buy" rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Redwire currently has an average rating of "Moderate Buy" and a consensus target price of $7.95.

Redwire Price Performance

Redwire stock traded down $0.80 during trading hours on Tuesday, reaching $8.39. The stock had a trading volume of 640,981 shares, compared to its average volume of 331,298. The company has a market cap of $558.27 million, a price-to-earnings ratio of -8.66 and a beta of 1.96. The business's 50 day moving average price is $7.09 and its 200-day moving average price is $6.14. Redwire has a 52 week low of $2.35 and a 52 week high of $9.36.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. On average, sell-side analysts forecast that Redwire will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Harbor Capital Advisors Inc. acquired a new position in Redwire in the 3rd quarter valued at about $623,000. Bank of New York Mellon Corp grew its stake in shares of Redwire by 496.1% in the 2nd 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 last quarter. LJI Wealth Management LLC acquired a new position in shares of Redwire in the second quarter valued at approximately $258,000. Squarepoint Ops LLC raised its stake in shares of Redwire by 59.4% during the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company's stock worth $511,000 after purchasing an additional 26,543 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Redwire during the first quarter worth $59,000. 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.