Shares of Redwire Co. (NYSE:RDW – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $24.99, but opened at $26.25. Redwire shares last traded at $25.39, with a volume of 611,788 shares traded.
Analyst Ratings Changes
A number of brokerages have recently commented on RDW. Cantor Fitzgerald began coverage on Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 price target for the company. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.50 to $27.00 in a report on Monday, January 27th. HC Wainwright upped their price target on Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Roth Mkm upped their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Redwire presently has a consensus rating of “Buy” and a consensus target price of $18.04.
Get Our Latest Stock Analysis on Redwire
Redwire Stock Performance
Insider Activity
In related news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.99, for a total value of $1,526,891.30. Following the transaction, the insider now owns 4,603,427 shares in the company, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 674,339 shares of company stock worth $13,439,120. 2.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Redwire
Institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in Redwire in the 4th quarter valued at approximately $33,000. Ameritas Investment Partners Inc. raised its position in Redwire by 64.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after buying an additional 931 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Redwire in the 4th quarter valued at approximately $63,000. Jones Financial Companies Lllp raised its position in Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares during the last quarter. Finally, US Bancorp DE acquired a new stake in Redwire in the 4th quarter valued at approximately $119,000. 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.
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