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

Shares of Redwire Co. (NYSE:RDW) gapped up before the market opened on Friday . The stock had previously closed at $11.68, but opened at $12.33. Redwire shares last traded at $12.27, with a volume of 289,949 shares traded.

Wall Street Analyst Weigh In

RDW has been the subject of a number of research analyst reports. Roth Mkm lifted their price objective on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. Alliance Global Partners boosted their target price on shares of Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and boosted their target price for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.55.

Redwire Stock Up 12.8 %

The firm has a market cap of $876.33 million, a price-to-earnings ratio of -10.88 and a beta of 1.93. The stock has a 50 day moving average of $8.31 and a 200 day moving average of $6.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RDW. SG Americas Securities LLC acquired a new position in Redwire in the first quarter valued at about $59,000. Vanguard Group Inc. raised its stake in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares in the last quarter. DNB Asset Management AS raised its stake in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after acquiring an additional 7,538 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Redwire by 496.1% during the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after acquiring an additional 59,372 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after acquiring an additional 12,703 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.