Set Your Sights On Redwire Corporation (NYSE: RDW)’S Upside Potential

BlackRock Fund Advisors has recently announced that it has increased stake in Redwire Corporation (NYSE:RDW) by 4.27%. After grabbing 1.04 million shares, the institutional investor is now in possession of 42564.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 1.63% having worth around $2.2 million. Moreover, The Vanguard Group, Inc. increased its share by 3979.0 to have a control over 0.87 million shares. And SignatureFD LLC raised its holdings to 0.12 million shares by acquiring 0.42 million shares or 0.66% of the stake.

Redwire Corporation (RDW) concluded trading on 01/12/23 at a closing price of $2.71, with 0.53 million shares of worth about $1.44 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -13.97% during that period and on Thursday the price saw a gain of about 19.91%. Currently the company’s common shares owned by public are about 63.46M shares, out of which, 25.10M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the RDW stock and their offered price forecasts bring an average price target of $10.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $10.00 and could fall to a lowest price of $10.00. The stock’s current price level is 72.9% above of average price target set by the analysts, while a rise to estimated low would result in gain of 72.9% for the stock. However, touching the estimated high of $10.00 would mean a gain of 72.9% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 47 times over the past 12 months. They bought 4,192,548 shares in 36 of the transactions. In 11 selling transactions, insiders dumped 4,202,905 shares.

Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Redwire Corporation Vanguard Total Stock Market Index is currently holding 0.56 million shares of worth totaling $1.19 million. The company recently came buying 0.0 shares which brought its stake up to 0.88% of the company’s outstanding shares. iShares Russell 2000 ETF bought 792.0 shares, after which its hold over company’s outstanding shares expand to 0.61%, leaving 0.39 million shares with the mutual fund that have a worth of about $0.82 million. Vanguard Extended Market Index Fu, after buying 0.23 million shares, have now control over 0.37% of the stake in the company. It holds 0.0 shares of worth $0.49 million.

However, the stock later moved at a day high price of 2.7800, or with a gain of 19.91%. Stock saw a price change of 27.23% in past 5 days and over the past one month there was a price change of 34.16%. Year-to-date (YTD), RDW shares are showing a performance of 36.87% which decreased to -55.06% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.67 but also hit the highest price of $8.78 during that period. The average intraday trading volume for Redwire Corporation shares is 132.53K. The stock is currently trading 34.66% above its 20-day simple moving average (SMA20), while that difference is up 23.07% for SMA50 and it goes to -21.27% lower than SMA200.

BlackRock Fund Advisors acquired 1.04 million shares of Redwire Corporation having value of about $2.2 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 42564.0 shares in the company valued at close to $115348.44, or have control over 4.27% stake in the company. Redwire Corporation (NYSE: RDW) currently have 63.46M outstanding shares and institutions hold larger chunk of about 16.10% of that. Holding of mutual funds in the company is about 4.63% while other institutional holders and individual stake holders have control over 68.73% and 4.29% of the stake respectively.

The stock has a current market capitalization of $176.34M. It has posted earnings per share of -$1.88 in the same period. It has Quick Ratio of 0.70 while making debt-to-equity ratio of 6.35. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RDW, volatility over the week remained 9.59% while standing at 8.10% over the month.

Analysts are in expectations that Redwire Corporation (RDW) stock would likely to be making an EPS of -$0.12 in the current quarter, while forecast for next quarter EPS is -$0.09 and it is -$0.17 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.12 which is -$0.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.55 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -291.80% while it is estimated to increase by 87.70% in next year.

Analysts at 1 brokerage firms have issued recommendations for the Redwire Corporation (RDW)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 1 Wall Street analysts, 1 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on September 28, 2021 offering a Buy rating for the stock and assigned a target price of $15 to it.