Redwire (NYSE:RDW) Shares Gap Up – Here’s What Happened

Redwire Co. (NYSE:RDW)’s share price gapped up prior to trading on Friday . The stock had previously closed at $13.49, but opened at $13.88. Redwire shares last traded at $14.25, with a volume of 218,267 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on RDW. Roth Mkm upped their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. B. Riley cut Redwire from a “buy” rating to a “neutral” rating and increased their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, HC Wainwright assumed coverage on shares of Redwire in a research note on Tuesday. They set a “buy” rating and a $18.00 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Stock Up 5.5 %

The stock has a market capitalization of $946.86 million, a PE ratio of -11.93 and a beta of 1.93. The firm has a 50 day moving average price of $8.89 and a 200 day moving average price of $7.14.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after purchasing an additional 3,681 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after buying an additional 7,538 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after acquiring an additional 2,296 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Redwire by 496.1% during the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after acquiring an additional 59,372 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after acquiring an additional 12,703 shares during the period. 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.