Redwire (NYSE:RDW) Trading Up 8% – What’s Next?

Redwire Co. (NYSE:RDW) traded up 8% during mid-day trading on Monday . The stock traded as high as $22.34 and last traded at $22.61. 403,274 shares changed hands during trading, a decline of 80% from the average session volume of 2,012,354 shares. The stock had previously closed at $20.93.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RDW. Cantor Fitzgerald began coverage on shares of Redwire in a research report on Friday, January 24th. They set an “overweight” rating and a $28.00 target price on the stock. HC Wainwright upped their target price on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Roth Mkm upped their target price 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. Finally, B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.50 to $27.00 in a research report on Monday, January 27th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $18.04.

Redwire Price Performance

The firm’s 50-day moving average price is $17.12 and its 200 day moving average price is $11.17. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -20.64 and a beta of 2.23.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the sale, the insider now owns 4,603,427 shares in the company, valued at approximately $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 674,339 shares of company stock worth $13,439,120. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Large investors have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new position in Redwire during the fourth quarter worth approximately $63,000. Jones Financial Companies Lllp raised its stake in Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after purchasing an additional 1,372 shares during the period. US Bancorp DE purchased a new position in Redwire during the fourth quarter worth approximately $119,000. Quantbot Technologies LP purchased a new position in Redwire during the fourth quarter worth approximately $154,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Redwire in the 4th quarter valued at $165,000. Hedge funds and other institutional investors 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.