Redwire (NYSE:RDW) Sees Large Volume Increase – Still a Buy?

Redwire Co. (NYSE:RDW) saw an uptick in trading volume on Friday . 579,498 shares were traded during trading, a decline of 24% from the previous session’s volume of 761,283 shares.The stock last traded at $11.85 and had previously closed at $12.36.

Analysts Set New Price Targets

Several brokerages recently issued reports on RDW. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.50 to $27.00 in a report on Monday, January 27th. HC Wainwright increased their price objective on Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald began coverage on Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $18.04.

Redwire Price Performance

The company has a fifty day simple moving average of $18.58 and a two-hundred day simple moving average of $12.59. The company has a market capitalization of $805.28 million, a P/E ratio of -10.00 and a beta of 2.33.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total transaction of $243,872.65. Following the transaction, the insider now directly owns 3,644,566 shares in the company, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 684,454 shares of company stock worth $13,682,993 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Redwire in the fourth quarter valued at about $33,000. Summit Investment Advisors Inc. grew its position in shares of Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after purchasing an additional 931 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Redwire in the fourth quarter valued at about $63,000. Jones Financial Companies Lllp grew its position in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after purchasing an additional 1,372 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.