Redwire (NYSE:RDW) Trading 6.1% Higher – Should You Buy?

Redwire Co. (NYSE:RDW) shares rose 6.1% on Tuesday . The stock traded as high as $8.76 and last traded at $8.79. Approximately 386,935 shares traded hands during trading, a decline of 81% from the average daily volume of 2,085,392 shares. The stock had previously closed at $8.29.

Wall Street Analysts Forecast Growth

RDW has been the subject of a number of analyst reports. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Redwire in a research note 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 for the company in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Redwire presently has an average rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Stock Performance

The stock’s fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $13.10. The company has a market capitalization of $639.12 million, a price-to-earnings ratio of -6.94 and a beta of 2.33.

Insider Activity at Redwire

In related news, major shareholder Park Lp Genesis II sold 10,115 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the completion of the transaction, the insider now owns 3,644,566 shares in the company, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 589,213 shares of company stock valued at $12,059,370 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds have recently made changes to their positions in RDW. MetLife Investment Management LLC boosted its position 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 worth $97,000 after buying an additional 7,921 shares during the period. Stifel Financial Corp purchased a new position in Redwire during the 3rd quarter valued at about $139,000. State Street Corp increased its holdings in shares of Redwire by 8.1% in the 3rd 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. Barclays PLC lifted its position in shares of Redwire by 55.8% in 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 in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after purchasing an additional 30,963 shares during the period. 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.