Redwire (NYSE:RDW) Stock Price Expected to Rise, HC Wainwright Analyst Says

Redwire (NYSE:RDW) had its target price increased by research analysts at HC Wainwright from $18.00 to $26.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 17.94% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Roth Mkm boosted their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price target on shares of Redwire in a report on Monday, September 30th. Finally, B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Redwire Stock Performance

Shares of Redwire stock opened at $22.05 on Wednesday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -18.22 and a beta of 2.17. The stock has a 50 day moving average price of $14.33 and a 200-day moving average price of $9.66. Redwire has a one year low of $2.76 and a one year high of $23.35.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the completion of the sale, the insider now directly owns 4,603,427 shares of the company’s stock, valued at approximately $78,212,224.73. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 417,656 shares of company stock valued at $7,663,352. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of Redwire by 39.6% during the third quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock valued at $150,000 after purchasing an additional 6,200 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of Redwire during the fourth quarter valued at $165,000. The Manufacturers Life Insurance Company purchased a new stake in Redwire in the second quarter worth about $74,000. Finally, Penserra Capital Management LLC lifted its stake in Redwire by 16.5% in the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after acquiring an additional 10,558 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.