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

Redwire Corporation (NYSE:RDW) saw unusually-strong trading volume on Monday . Approximately 2,892,924 shares changed hands during mid-day trading, a decline of 28% from the previous session’s volume of 4,021,375 shares.The stock last traded at $6.7270 and had previously closed at $6.39.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cantor Fitzgerald dropped their price target on Redwire from $28.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Roth Capital reiterated a “buy” rating and set a $15.00 price target on shares of Redwire in a report on Thursday, November 6th. Bank of America reduced their price objective on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 19th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Redwire presently has an average rating of “Hold” and an average target price of $13.88.

Redwire Stock Up 4.8%

The firm has a market capitalization of $1.11 billion, a PE ratio of -2.11 and a beta of 2.48. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $7.35 and a two-hundred day moving average of $11.16.

Insider Transactions at Redwire

In other news, CAO Chris Edmunds acquired 5,500 shares of Redwire stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $5.46 per share, with a total value of $30,030.00. Following the purchase, the chief accounting officer directly owned 107,441 shares of the company’s stock, valued at approximately $586,627.86. This trade represents a 5.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Aaron Michael Futch bought 18,410 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $5.45 per share, with a total value of $100,334.50. Following the transaction, the executive vice president owned 88,704 shares in the company, valued at approximately $483,436.80. This represents a 26.19% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 56,065 shares of company stock valued at $330,047. 2.60% of the stock is owned by company insiders.

Institutional Trading of Redwire

A number of institutional investors have recently added to or reduced their stakes in RDW. Abich Financial Wealth Management LLC purchased a new position in Redwire in the third quarter valued at about $41,000. Russell Investments Group Ltd. boosted its holdings in Redwire by 308.6% in the 3rd 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 period. Ameritas Advisory Services LLC purchased a new stake in shares of Redwire during the second quarter valued at approximately $54,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Redwire by 440.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock worth $60,000 after purchasing an additional 5,395 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Redwire in the first quarter valued at $69,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.