Redwire (NYSE:RDW) Trading 6.1% Higher – Here’s What Happened

Redwire Co. (NYSE:RDW) traded up 6.1% on Tuesday . The company traded as high as $8.76 and last traded at $8.79. 386,935 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,085,392 shares. The stock had previously closed at $8.29.

Wall Street Analysts Forecast Growth

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

Redwire Stock Performance

The stock has a market cap of $639.12 million, a price-to-earnings ratio of -6.94 and a beta of 2.33. The stock’s 50-day simple moving average is $16.88 and its two-hundred day simple moving average is $13.10.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 72,415 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $17.90, for a total value of $1,296,228.50. Following the completion of the sale, the insider now owns 4,422,853 shares in the company, valued at approximately $79,169,068.70. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 589,213 shares of company stock worth $12,059,370 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently bought and sold shares of RDW. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Redwire in the 4th quarter valued at $448,000. Andar Capital Management HK Ltd acquired a new position in Redwire in the fourth quarter valued at about $3,621,000. State Street Corp grew its stake in Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after buying an additional 35,519 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Redwire by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company’s stock worth $1,080,000 after buying an additional 2,533 shares in the last quarter. Finally, Brookstone Capital Management bought a new position in shares of Redwire in the fourth quarter valued at approximately $329,000. 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.