Redwire (NYSE:RDW) Shares Up 9.9% – What’s Next?

Redwire Co. (NYSE:RDW) shares traded up 9.9% during mid-day trading on Tuesday . The company traded as high as $9.97 and last traded at $9.98. 202,033 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 936,774 shares. The stock had previously closed at $9.08.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RDW. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price objective on shares of Redwire in a research report on Tuesday, March 11th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. Finally, B. Riley cut their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Trading Up 8.7 %

The company’s fifty day moving average is $13.59 and its two-hundred day moving average is $13.23. The stock has a market cap of $745.91 million, a price-to-earnings ratio of -8.16 and a beta of 2.51.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider now owns 4,007,489 shares of the company’s stock, valued at approximately $87,844,158.88. This represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 416,798 shares of company stock valued at $8,961,141 over the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Redwire during the 4th quarter worth $33,000. Summit Investment Advisors Inc. grew its stake 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 buying an additional 931 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Redwire during the fourth quarter worth $63,000. Jones Financial Companies Lllp boosted its position in Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Redwire by 69,077.8% in the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company’s stock valued at $52,000 after purchasing an additional 6,217 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Company Profile

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.