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

Redwire Co. (NYSE:RDW) gapped up before the market opened on Thursday . The stock had previously closed at $24.99, but opened at $26.25. Redwire shares last traded at $25.39, with a volume of 611,788 shares trading hands.

Wall Street Analysts Forecast Growth

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

Redwire Stock Up 3.2 %

The firm’s fifty day moving average is $17.36 and its two-hundred day moving average is $11.27. The firm has a market cap of $1.72 billion, a P/E ratio of -21.39 and a beta of 2.23.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $16.99, for a total value of $1,526,891.30. Following the completion of the transaction, the insider now owns 4,603,427 shares in the company, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 674,339 shares of company stock valued at $13,439,120. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in RDW. Summit Securities Group LLC purchased a new stake in shares of Redwire in the 4th quarter worth about $63,000. Jones Financial Companies Lllp boosted its stake in Redwire by 45.7% during 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 in the last quarter. Vontobel Holding Ltd. purchased a new stake in Redwire in the third quarter worth about $74,000. The Manufacturers Life Insurance Company bought a new position in shares of Redwire during the second quarter valued at approximately $74,000. Finally, AQR Capital Management LLC purchased a new position in shares of Redwire during the second quarter valued at approximately $89,000. Institutional investors own 8.10% of the company’s stock.

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.