Redwire (NYSE:RDW) Stock Price Up 3.3% - What's Next?

Redwire Co. (NYSE:RDW - Get Free Report) rose 3.3% during trading on Wednesday . The company traded as high as $9.36 and last traded at $9.19. Approximately 103,809 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 327,456 shares. The stock had previously closed at $8.90.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RDW. B. Riley raised shares of Redwire from a "neutral" rating to a "buy" rating and set a $8.00 price objective for the company in a report on Friday, August 9th. Cantor Fitzgerald restated an "overweight" rating and set a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. Finally, 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 report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Redwire has an average rating of "Buy" and a consensus target price of $7.65.

Redwire Trading Down 1.5 %

The business has a 50-day moving average price of $6.88 and a 200 day moving average price of $6.01. The stock has a market capitalization of $575.13 million, a P/E ratio of -12.07 and a beta of 1.96.

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 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 predict that Redwire Co. will post -0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwire

Large investors have recently modified their holdings of the stock. Vontobel Holding Ltd. purchased a new position in shares of Redwire during the 3rd quarter worth about $74,000. SG Americas Securities LLC increased its stake in Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company's stock worth $150,000 after buying an additional 6,200 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire during the second quarter valued at approximately $74,000. AQR Capital Management LLC bought a new stake in Redwire during the 2nd quarter valued at $89,000. Finally, Squarepoint Ops LLC increased 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 valued at $511,000 after buying an additional 26,543 shares during the period. Institutional investors 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.