Redwire (NYSE:RDW) Shares Up 10.6% – Time to Buy?

Shares of Redwire Corporation (NYSE:RDW) were up 10.6% on Thursday . The stock traded as high as $6.19 and last traded at $6.16. Approximately 4,582,547 shares changed hands during trading, an increase of 14% from the average daily volume of 4,014,820 shares. The stock had previously closed at $5.57.

Analysts Set New Price Targets

RDW has been the topic of several research analyst reports. Truist Financial decreased their target price on shares of Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Canaccord Genuity Group cut their target price on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. HC Wainwright reissued a “buy” rating and set a $22.00 price target (down previously from $26.00) on shares of Redwire in a research report on Friday, August 8th. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.88.

Redwire Stock Performance

The stock has a market capitalization of $1.03 billion, a P/E ratio of -1.95 and a beta of 2.48. The company has a fifty day moving average of $7.45 and a two-hundred day moving average of $11.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05.

Insider Buying and Selling at Redwire

In other Redwire news, CAO Chris Edmunds acquired 5,500 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average price of $5.46 per share, for a total transaction of $30,030.00. Following the completion of the purchase, the chief accounting officer directly owned 107,441 shares in the company, valued at $586,627.86. The trade was a 5.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of Redwire stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The disclosure for this sale is available in the SEC filing. Insiders acquired 56,065 shares of company stock worth $330,047 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $60,000 after buying an additional 5,395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Redwire by 24.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,994 shares of the company’s stock valued at $207,000 after acquiring an additional 4,591 shares during the period. Brevan Howard Capital Management LP bought a new stake in Redwire during the 3rd quarter valued at $726,000. Alliancebernstein L.P. boosted its position in Redwire by 10.6% during the 3rd quarter. Alliancebernstein L.P. now owns 60,162 shares of the company’s stock worth $541,000 after acquiring an additional 5,762 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Redwire during the 3rd quarter worth $175,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.