Redwire (NYSE:RDW) Shares Gap Up – What’s Next?

Shares of Redwire Co. (NYSE:RDW) gapped up before the market opened on Monday . The stock had previously closed at $10.60, but opened at $11.16. Redwire shares last traded at $11.09, with a volume of 341,149 shares.

Analyst Ratings Changes

Several research firms have commented on RDW. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Redwire in a research note on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 target price on shares of Redwire in a research note on Wednesday, March 12th. Finally, B. Riley decreased their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Redwire presently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Stock Performance

The stock’s 50-day simple moving average is $17.65 and its 200-day simple moving average is $12.81. The firm has a market capitalization of $734.61 million, a PE ratio of -9.12 and a beta of 2.33.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock valued at $212,000 after purchasing an additional 532 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Redwire by 7.8% during the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock valued at $179,000 after buying an additional 782 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after buying an additional 931 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Redwire during the 4th quarter valued at $33,000. 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.