Redwire (NYSE:RDW) Shares Up 6.7% – Should You Buy?

Redwire Co. (NYSE:RDW) traded up 6.7% during mid-day trading on Friday . The company traded as high as $18.25 and last traded at $18.19. 141,255 shares changed hands during trading, a decline of 77% from the average session volume of 621,207 shares. The stock had previously closed at $17.04.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Redwire in a research report on Wednesday, December 11th. Roth Mkm lifted their price target on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and boosted their price target for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Price Performance

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.69 and a beta of 2.25. The business has a 50 day moving average of $12.16 and a 200 day moving average of $8.67.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the completion of the sale, the insider now directly owns 4,603,427 shares in the company, valued at approximately $78,212,224.73. This represents a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. purchased a new stake in shares of Redwire during the 3rd quarter worth approximately $74,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire during the 2nd quarter valued at $74,000. AQR Capital Management LLC purchased a new position in shares of Redwire in the 2nd quarter worth about $89,000. MetLife Investment Management LLC grew its position in Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after acquiring an additional 7,921 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in Redwire during the third quarter valued at about $139,000. 8.10% of the stock is 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.