Redwire (NYSE:RDW) Shares Up 5.6% – Here’s Why

Redwire Co. (NYSE:RDW) was up 5.6% on Tuesday . The stock traded as high as $11.57 and last traded at $11.41. Approximately 192,514 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 353,640 shares. The stock had previously closed at $10.81.

Analyst Ratings Changes

RDW has been the topic of several analyst reports. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and upped their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Alliance Global Partners increased their price target on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Roth Mkm lifted their price target 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, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.55.

Redwire Trading Up 7.5 %

The firm has a 50-day moving average of $7.76 and a two-hundred day moving average of $6.66. The firm has a market capitalization of $773.19 million, a P/E ratio of -9.43 and a beta of 1.93.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in RDW. Barclays PLC grew its position in shares of Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after buying an additional 422,854 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Redwire in the 3rd quarter valued at $623,000. Bank of New York Mellon Corp lifted its stake in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after purchasing an additional 59,372 shares during the period. LJI Wealth Management LLC acquired a new stake in Redwire during the second quarter worth approximately $258,000. Finally, State Street Corp increased its holdings in Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after purchasing an additional 35,519 shares in the last quarter. 8.10% of the stock is owned by 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.