Redwire (NYSE:RDW) Coverage Initiated at HC Wainwright

Equities researchers at HC Wainwright initiated coverage on shares of Redwire (NYSE:RDW) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $18.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 30.81% from the stock’s previous close.

Several other analysts also recently weighed in on RDW. Roth Mkm boosted their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Alliance Global Partners upped their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Finally, B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and upped their target price for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Redwire currently has an average rating of “Moderate Buy” and an average price target of $10.13.

Redwire Stock Performance

Shares of RDW stock opened at $13.76 on Tuesday. Redwire has a fifty-two week low of $2.49 and a fifty-two week high of $14.24. The stock has a 50 day moving average price of $8.46 and a two-hundred day moving average price of $6.99. The company has a market capitalization of $915.59 million, a P/E ratio of -11.37 and a beta of 1.93.

Institutional Investors Weigh In On Redwire

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Redwire during the first quarter valued at $59,000. Vontobel Holding Ltd. purchased a new stake in shares of Redwire during the third quarter valued at $74,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire during the second quarter valued at $74,000. AQR Capital Management LLC purchased a new position in Redwire in the second quarter worth about $89,000. Finally, MetLife Investment Management LLC boosted its position in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. 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.