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

Redwire Co. (NYSE:RDW)’s share price gapped up prior to trading on Monday . The stock had previously closed at $12.03, but opened at $12.41. Redwire shares last traded at $12.67, with a volume of 123,605 shares.

Analyst Upgrades and Downgrades

RDW has been the topic of several recent analyst reports. Roth Mkm raised their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Redwire in a report on Wednesday, December 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Finally, B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and raised their target price for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Price Performance

The company has a market capitalization of $856.38 million, a price-to-earnings ratio of -10.79 and a beta of 2.25. The firm’s fifty day moving average price is $10.21 and its 200-day moving average price is $7.77.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in 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 position in Redwire in the 3rd quarter valued at approximately $623,000. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 59,372 shares during the last quarter. LJI Wealth Management LLC bought a new position in Redwire in the 2nd quarter valued at approximately $258,000. Finally, State Street Corp raised its holdings in Redwire by 8.1% during the 3rd 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 during the last quarter. 8.10% of the stock is currently 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.