Redwire (NYSE:RDW) Given "Overweight" Rating at Cantor Fitzgerald

Redwire (NYSE:RDW - Get Free Report)'s stock had its "overweight" rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They presently have a $28.00 price target on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 175.62% from the company's current price.

Several other brokerages have also issued reports on RDW. HC Wainwright raised their price objective on Redwire from $18.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. B. Riley upgraded Redwire from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $18.04.

Redwire Price Performance

Shares of NYSE RDW traded down $1.10 during midday trading on Tuesday, hitting $10.16. 1,065,918 shares of the company's stock were exchanged, compared to its average volume of 781,091. The firm's fifty day simple moving average is $18.45 and its 200-day simple moving average is $12.66. The company has a market cap of $675.99 million, a PE ratio of -8.49 and a beta of 2.33. Redwire has a twelve month low of $3.00 and a twelve month high of $26.66.

Insiders Place Their Bets

In related news, major shareholder Park Lp Genesis II sold 150,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the completion of the transaction, the insider now directly owns 4,157,489 shares of the company's stock, valued at $81,528,359.29. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Redwire by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after acquiring an additional 101,620 shares in the last quarter. Barclays PLC lifted its stake in shares of Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company's stock valued at $20,713,000 after purchasing an additional 77,228 shares during the period. Geode Capital Management LLC boosted its holdings in Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock worth $3,599,000 after buying an additional 30,963 shares in the last quarter. Federated Hermes Inc. increased its holdings in Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after buying an additional 310,769 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock valued at $3,252,000 after acquiring an additional 35,519 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.

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