Redwire (NYSE:RDW) Trading 7.7% Higher – Time to Buy?

Redwire Co. (NYSE:RDW)’s stock price rose 7.7% during trading on Wednesday . The stock traded as high as $13.46 and last traded at $13.48. Approximately 947,713 shares traded hands during trading, an increase of 28% from the average daily volume of 742,817 shares. The stock had previously closed at $12.51.

Analyst Upgrades and Downgrades

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

Redwire Price Performance

The firm has a market cap of $943.35 million, a price-to-earnings ratio of -11.68 and a beta of 2.23. The firm’s fifty day moving average is $18.79 and its 200-day moving average is $12.50.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 684,454 shares of company stock valued at $13,682,993. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Redwire in the fourth quarter valued at $33,000. Summit Investment Advisors Inc. grew its stake in shares of Redwire by 64.2% in 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 during the period. Summit Securities Group LLC bought a new stake in Redwire in the 4th quarter valued at about $63,000. Jones Financial Companies Lllp raised its stake in Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after buying an additional 1,372 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after buying an additional 7,921 shares during the period. Institutional investors and hedge funds 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.