Redwire (NYSE:RDW) Stock Price Up 4.2% – Time to Buy?

Shares of Redwire Co. (NYSE:RDW) rose 4.2% during trading on Tuesday . The stock traded as high as $12.18 and last traded at $12.01. Approximately 790,401 shares were traded during trading, a decline of 6% from the average daily volume of 840,069 shares. The stock had previously closed at $11.53.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RDW. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Redwire in a report on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 target price on shares of Redwire in a research note on Tuesday, March 11th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. Finally, B. Riley dropped their price target on Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and an average target price of $17.71.

Redwire Stock Performance

The company has a 50 day simple moving average of $17.33 and a two-hundred day simple moving average of $12.96. The firm has a market cap of $782.52 million, a PE ratio of -9.72 and a beta of 2.33.

Insider Activity at Redwire

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.99, for a total value of $1,526,891.30. Following the sale, the insider now owns 4,603,427 shares in the company, valued at $78,212,224.73. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 684,454 shares of company stock worth $13,682,993 over the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Redwire during the fourth quarter worth $33,000. Summit Investment Advisors Inc. grew its position in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after acquiring an additional 931 shares during the period. Summit Securities Group LLC purchased a new position in shares of Redwire in the 4th quarter valued at about $63,000. Jones Financial Companies Lllp raised its holdings in Redwire by 45.7% in the 4th 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. Finally, US Bancorp DE purchased a new position in Redwire during the fourth quarter worth approximately $119,000. Hedge funds and other institutional investors 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.