Redwire (NYSE:RDW) Trading Up 8% – What’s Next?

Redwire Co. (NYSE:RDW) shares were up 8% on Monday . The company traded as high as $22.34 and last traded at $22.61. Approximately 403,274 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,012,354 shares. The stock had previously closed at $20.93.

Analyst Ratings Changes

A number of research analysts have weighed in on RDW shares. Cantor Fitzgerald started coverage on shares of Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 target price on the stock. HC Wainwright lifted their price target on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Finally, Roth Mkm boosted their price target on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $18.04.

Redwire Price Performance

The company’s 50 day simple moving average is $17.12 and its 200 day simple moving average is $11.17. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -20.64 and a beta of 2.23.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the completion of the transaction, the insider now owns 4,603,427 shares in the company, valued at approximately $78,212,224.73. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 674,339 shares of company stock worth $13,439,120. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Large investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after buying an additional 422,854 shares during the last quarter. Andar Capital Management HK Ltd purchased a new position in Redwire during the fourth quarter worth about $3,621,000. Vanguard Group Inc. raised its holdings in Redwire by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock worth $21,573,000 after purchasing an additional 101,620 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Redwire during the third quarter worth about $623,000. Finally, Van ECK Associates Corp purchased a new position in Redwire during the fourth quarter worth about $1,151,000. Institutional investors and hedge funds 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.