Redwire (NYSE:RDW) Trading Up 7.7% – Time to Buy?

Redwire Co. (NYSE:RDW) shares were up 7.7% on Wednesday . The stock traded as high as $13.46 and last traded at $13.48. Approximately 947,713 shares changed hands during trading, an increase of 28% from the average daily volume of 742,817 shares. The stock had previously closed at $12.51.

Wall Street Analyst Weigh In

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

Redwire Stock Performance

The company has a market capitalization of $943.35 million, a P/E ratio of -11.68 and a beta of 2.23. The stock’s fifty day moving average price is $18.79 and its 200-day moving average price is $12.50.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 150,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total value of $2,941,500.00. Following the transaction, the insider now directly owns 4,157,489 shares in the company, valued at $81,528,359.29. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 684,454 shares of company stock worth $13,682,993 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Redwire by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after acquiring an additional 532 shares during the period. JPMorgan Chase & Co. lifted its stake in Redwire by 7.8% during the fourth quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock worth $179,000 after purchasing an additional 782 shares during the last quarter. Summit Investment Advisors Inc. lifted 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 during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares during the last quarter. Finally, Quarry LP acquired a new stake in Redwire in the fourth quarter valued at approximately $33,000. 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.