Redwire (NYSE:RDW) Shares Gap Up – Still a Buy?

Shares of Redwire Co. (NYSE:RDW) gapped up before the market opened on Friday . The stock had previously closed at $17.09, but opened at $17.44. Redwire shares last traded at $17.14, with a volume of 560,199 shares.

Analyst Ratings Changes

Several analysts have weighed in on the company. Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and increased their price objective for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Redwire in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Stock Down 1.2 %

The business has a 50 day moving average of $11.35 and a 200 day moving average of $8.30. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -13.96 and a beta of 2.25.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Geode Capital Management LLC grew its stake in Redwire by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after acquiring an additional 30,963 shares during the period. Barclays PLC boosted its holdings in shares of Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after purchasing an additional 422,854 shares during the last quarter. State Street Corp grew its position in shares of Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares during the period. Stifel Financial Corp purchased a new stake in shares of Redwire in the third quarter valued at $139,000. Finally, MetLife Investment Management LLC increased its stake in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.