Redwire (NYSE:RDW) Sees Unusually-High Trading Volume – Here’s Why

Redwire Co. (NYSE:RDW) shares saw unusually-high trading volume on Friday . Approximately 579,498 shares were traded during mid-day 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.

Analyst Ratings Changes

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

Redwire Trading Down 4.5 %

The firm has a market capitalization of $785.25 million, a PE ratio of -9.78 and a beta of 2.33. The company has a fifty day moving average price of $18.68 and a two-hundred day moving average price of $12.51.

Insider Activity at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now owns 4,598,056 shares in the company, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 684,454 shares of company stock worth $13,682,993 in the last three months. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Redwire by 165.7% in the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock valued at $8,202,000 after acquiring an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Redwire in the 4th quarter worth about $4,830,000. EAM Global Investors LLC bought a new stake in Redwire in the 4th quarter valued at about $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new position in Redwire during the 4th quarter valued at about $3,621,000. 8.10% of the stock is currently 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.