Redwire (NYSE:RDW) Shares Gap Up – Should You Buy?

Redwire Co. (NYSE:RDW)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $22.19, but opened at $23.12. Redwire shares last traded at $22.84, with a volume of 461,101 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cantor Fitzgerald assumed coverage on Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 price objective for the company. HC Wainwright boosted their price target on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Roth Mkm raised their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.50 to $27.00 in a research report on Monday, January 27th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $18.04.

Redwire Stock Down 1.3 %

The company’s 50 day moving average price is $16.43 and its 200-day moving average price is $10.72.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now owns 4,598,056 shares in the company, valued at $82,810,988.56. This represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 617,656 shares of company stock valued at $12,128,352. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its position in Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares during the period. Vontobel Holding Ltd. bought a new position in Redwire during the third quarter valued at $74,000. The Manufacturers Life Insurance Company purchased a new stake in Redwire in the second quarter worth $74,000. AQR Capital Management LLC bought a new stake in shares of Redwire in the second quarter valued at $89,000. Finally, MetLife Investment Management LLC lifted its position in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying 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.