Redwire (NYSE:RDW) Sees Large Volume Increase

Redwire Co. (NYSE:RDW) saw strong trading volume on Monday . 499,250 shares traded hands during trading, an increase of 60% from the previous session’s volume of 311,831 shares.The stock last traded at $7.80 and had previously closed at $7.72.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Roth Mkm lifted their target price on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price target on shares of Redwire in a research note on Monday. Finally, Longbow Research boosted their price target on Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Redwire presently has a consensus rating of “Buy” and a consensus target price of $6.75.

Redwire Stock Performance

The firm has a market cap of $504.97 million, a P/E ratio of -10.69 and a beta of 1.97. The company has a 50 day moving average of $5.96 and a 200 day moving average of $4.30.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, May 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $87.79 million during the quarter, compared to analysts’ expectations of $65.88 million. As a group, analysts expect that Redwire Co. will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the completion of the sale, the director now directly owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its position in shares of Redwire by 17.2% during the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after purchasing an additional 2,296 shares during the period. Vanguard Group Inc. increased its position in shares of Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after purchasing an additional 3,681 shares during the period. DNB Asset Management AS increased its position in shares of Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after purchasing an additional 7,538 shares during the period. Finally, LA Financiere DE L Echiquier increased its position in shares of Redwire by 10.6% during the fourth quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock valued at $1,282,000 after purchasing an additional 43,000 shares during the period. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.