Redwire (NYSE:RDW) Trading 7.5% Higher – Here’s What Happened

Redwire Co. (NYSE:RDW) shares were up 7.5% on Monday . The stock traded as high as $22.40 and last traded at $22.84. Approximately 464,850 shares traded hands during trading, a decline of 76% from the average daily volume of 1,965,807 shares. The stock had previously closed at $21.24.

Analysts Set New Price Targets

A number of brokerages have issued reports on RDW. Roth Mkm increased their price objective 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. Cantor Fitzgerald assumed coverage on shares of Redwire in a research report on Friday, January 24th. They set an “overweight” rating and a $28.00 price objective for the company. HC Wainwright upped their target price on Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, B. Riley raised Redwire from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $9.50 to $27.00 in a report on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.04.

Redwire Trading Up 0.5 %

The business has a 50-day moving average of $15.21 and a two-hundred day moving average of $10.09.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the sale, the insider now owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 517,656 shares of company stock worth $9,855,352 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Squarepoint Ops LLC boosted its stake in shares of Redwire by 59.4% in the 2nd quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after purchasing an additional 26,543 shares during the last quarter. AQR Capital Management LLC bought a new stake in Redwire during the second quarter valued at $89,000. The Manufacturers Life Insurance Company bought a new stake in Redwire during the second quarter valued at $74,000. SG Americas Securities LLC grew its holdings in Redwire by 39.6% during the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock worth $150,000 after acquiring an additional 6,200 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in shares of Redwire in the 3rd quarter worth about $74,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.