Redwire (NYSE:RDW) Stock Price Up 4.2% – Time to Buy?

Redwire Co. (NYSE:RDW)’s share price shot up 4.2% on Tuesday . The company traded as high as $12.18 and last traded at $12.01. 790,401 shares changed hands during trading, a decline of 6% from the average session volume of 840,069 shares. The stock had previously closed at $11.53.

Analyst Ratings Changes

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

Redwire Stock Performance

The company has a market capitalization of $782.52 million, a P/E ratio of -9.72 and a beta of 2.33. The firm’s fifty day moving average is $17.33 and its 200 day moving average is $12.96.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the transaction, the insider now directly owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 684,454 shares of company stock worth $13,682,993. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Redwire in the fourth quarter valued at approximately $33,000. Summit Investment Advisors Inc. grew its position in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after buying an additional 931 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Redwire during the fourth quarter valued at $63,000. Jones Financial Companies Lllp increased its stake in shares of Redwire by 45.7% during the fourth 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 period. Finally, MetLife Investment Management LLC raised its holdings in shares of 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 acquiring an additional 7,921 shares in the last quarter. 8.10% of the stock is 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.