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

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

Analyst Ratings Changes

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

Redwire Price Performance

The business has a 50-day moving average of $17.22 and a 200 day moving average of $12.99. The company has a market capitalization of $745.53 million, a PE ratio of -8.15 and a beta of 2.33.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the sale, the insider now directly owns 4,598,056 shares in the company, valued at $82,810,988.56. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 684,454 shares of company stock valued at $13,682,993 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Redwire in the 4th quarter valued at approximately $33,000. Summit Investment Advisors Inc. lifted its position in Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after buying an additional 931 shares during the last quarter. Summit Securities Group LLC purchased a new position in Redwire during the fourth quarter worth $63,000. Jones Financial Companies Lllp raised its stake in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after acquiring an additional 1,372 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after acquiring an additional 7,921 shares during the last quarter. 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.