Redwire Co. (NYSE:RDW) Short Interest Down 20.3% in February

Redwire Co. (NYSE:RDW) was the recipient of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 4,450,000 shares, a decline of 20.3% from the January 31st total of 5,580,000 shares. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 17.8% of the company’s shares are sold short.

Redwire Trading Up 1.5 %

Shares of RDW traded up $0.19 during midday trading on Tuesday, reaching $12.50. 2,800,132 shares of the stock were exchanged, compared to its average volume of 741,379. Redwire has a 52 week low of $2.94 and a 52 week high of $26.66. The company’s 50 day moving average is $18.79 and its two-hundred day moving average is $12.50. The company has a market capitalization of $831.43 million, a P/E ratio of -10.33 and a beta of 2.23.

Insider Activity

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the company’s 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 transaction, the insider now owns 3,644,566 shares of the company’s stock, valued at $87,870,486.26. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new position in shares of Redwire during the 4th quarter worth $33,000. Summit Investment Advisors Inc. lifted its stake 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 purchasing an additional 931 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Redwire during the 4th quarter worth $63,000. Jones Financial Companies Lllp lifted its stake in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after purchasing an additional 1,372 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RDW. Roth Mkm upped their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald began coverage on Redwire in a research report on Friday, January 24th. They issued an “overweight” rating and a $28.00 price objective on the stock. HC Wainwright upped their price objective on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, B. Riley raised Redwire from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $18.04.

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.