Redwire (NYSE:RDW) Sees Large Volume Increase – Should You Buy?

Shares of Redwire Corporation (NYSE:RDW) saw unusually-high trading volume on Monday . Approximately 6,300,333 shares were traded during trading, an increase of 40% from the previous session’s volume of 4,499,362 shares.The stock last traded at $8.6050 and had previously closed at $8.00.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RDW shares. KeyCorp started coverage on Redwire in a research note on Thursday. They set a “sector weight” rating for the company. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Truist Financial cut their target price on shares of Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Finally, Canaccord Genuity Group reduced their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Redwire presently has an average rating of “Hold” and a consensus price target of $12.50.

Redwire Price Performance

The company has a 50-day moving average of $6.81 and a 200 day moving average of $10.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. The firm has a market cap of $1.38 billion, a P/E ratio of -2.65 and a beta of 2.48.

Insider Activity

In other news, EVP Aaron Michael Futch bought 18,410 shares of the stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $5.45 per share, with a total value of $100,334.50. Following the acquisition, the executive vice president owned 88,704 shares in the company, valued at $483,436.80. This trade represents a 26.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Chris Edmunds bought 5,500 shares of Redwire stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $5.46 per share, for a total transaction of $30,030.00. Following the completion of the acquisition, the chief accounting officer directly owned 107,441 shares in the company, valued at $586,627.86. This represents a 5.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 56,065 shares of company stock worth $330,047. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Ameritas Advisory Services LLC bought a new position in Redwire in the 2nd quarter worth approximately $54,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Redwire in the 3rd quarter valued at $41,000. Russell Investments Group Ltd. raised its position in shares of Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after acquiring an additional 3,672 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Redwire by 440.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after acquiring an additional 5,395 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.