Redwire (NYSE:RDW) Trading 3.9% Higher – Still a Buy?

Redwire Co. (NYSE:RDW)’s stock price traded up 3.9% during mid-day trading on Tuesday . The company traded as high as $12.90 and last traded at $12.71. 80,120 shares were traded during mid-day trading, a decline of 79% from the average session volume of 384,561 shares. The stock had previously closed at $12.23.

Analysts Set New Price Targets

Several brokerages recently weighed in on RDW. HC Wainwright initiated coverage on shares of Redwire in a research report on Tuesday, November 26th. They issued a “buy” rating and a $18.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and increased their price target for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Roth Mkm boosted their price objective on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Redwire has a consensus rating of “Moderate Buy” and an average price target of $10.13.

Redwire Stock Performance

The stock has a market cap of $803.15 million, a P/E ratio of -10.09 and a beta of 2.25. The company’s fifty day moving average price is $9.81 and its 200-day moving average price is $7.59.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire during the second quarter worth $74,000. Vontobel Holding Ltd. bought a new stake in Redwire during the 3rd quarter valued at about $74,000. AQR Capital Management LLC bought a new position in Redwire in the 2nd quarter worth about $89,000. MetLife Investment Management LLC increased its position in shares of Redwire by 129.1% during the third 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 period. Finally, SG Americas Securities LLC raised its stake in shares of Redwire by 17.2% during 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. 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.