Fintel reports that on August 9, 2024, B. Riley Securities upgraded their outlook for Redwire (NYSE:RDW) from Neutral to Buy.
Analyst Price Forecast Suggests 63.08% Upside
As of August 6, 2024, the average one-year price target for Redwire is $8.42/share. The forecasts range from a low of $6.06 to a high of $10.50. The average price target represents an increase of 63.08% from its latest reported closing price of $5.16 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Redwire is 373MM, an increase of 27.63%. The projected annual non-GAAP EPS is 0.01.
What is the Fund Sentiment?
There are 139 funds or institutions reporting positions in Redwire. This is an increase of 10 owner(s) or 7.75% in the last quarter. Average portfolio weight of all funds dedicated to RDW is 0.02%, an increase of 31.69%. Total shares owned by institutions increased in the last three months by 11.71% to 6,584K shares. 
The put/call ratio of RDW is 1.96, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 737K shares representing 1.12% ownership of the company. No change in the last quarter.
King Luther Capital Management holds 500K shares representing 0.76% ownership of the company. No change in the last quarter.
Geode Capital Management holds 493K shares representing 0.75% ownership of the company. In its prior filing, the firm reported owning 298K shares , representing an increase of 39.50%. The firm increased its portfolio allocation in RDW by 33.75% over the last quarter.
La Financiere De L'echiquier holds 413K shares representing 0.63% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 405K shares representing 0.62% ownership of the company. In its prior filing, the firm reported owning 216K shares , representing an increase of 46.49%. The firm increased its portfolio allocation in RDW by 192.29% over the last quarter.
Redwire Background Information
(This description is provided by the company.)
Redwire is a new leader in mission critical space solutions and high reliability components for the next generation space economy, with valuable IP for solar power generation and in-space 3D printing and manufacturing. With decades of flight heritage combined with the agile and innovative culture of a commercial space platform, Redwire is uniquely positioned to assist its customers in solving the complex challenges of future space missions.
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This story originally appeared on Fintel.
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