Redwire (NYSE:RDW) Trading Up 5.1% – Time to Buy?

Redwire Co. (NYSE:RDW) was up 5.1% during trading on Wednesday . The company traded as high as $8.36 and last traded at $8.10. Approximately 227,364 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 915,614 shares. The stock had previously closed at $7.71.

Wall Street Analysts Forecast Growth

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

Redwire Stock Up 5.6 %

The company has a market capitalization of $615.16 million, a price-to-earnings ratio of -6.72 and a beta of 2.51. The company has a 50 day simple moving average of $14.96 and a 200 day simple moving average of $13.13.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the transaction, the insider now directly owns 4,157,489 shares of the company’s stock, valued at approximately $81,528,359.29. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 416,798 shares of company stock valued at $8,961,141 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after buying an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Redwire in the fourth quarter valued at $4,830,000. EAM Global Investors LLC bought a new position in Redwire during the 4th quarter valued at $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new position in Redwire during the 4th quarter worth $3,621,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.