Redwire (NYSE:RDW) Trading Up 6.7% – Time to Buy?

Shares of Redwire Co. (NYSE:RDW) traded up 6.7% on Friday . The stock traded as high as $18.25 and last traded at $18.19. 141,255 shares were traded during mid-day trading, a decline of 77% from the average session volume of 621,207 shares. The stock had previously closed at $17.04.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Roth Mkm raised their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and boosted their price target for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Redwire in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Price Performance

The company has a market cap of $1.18 billion, a P/E ratio of -14.69 and a beta of 2.25. The firm’s 50-day moving average is $12.16 and its two-hundred day moving average is $8.67.

Insider Buying and Selling 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. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently modified their holdings of RDW. Geode Capital Management LLC grew its holdings in Redwire by 6.3% in 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 last quarter. Barclays PLC boosted its holdings in Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after buying an additional 422,854 shares in the last quarter. State Street Corp increased its holdings in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after buying an additional 35,519 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Redwire during the 3rd quarter worth about $139,000. Finally, MetLife Investment Management LLC lifted its holdings in 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 buying an additional 7,921 shares in the last quarter. Institutional investors 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.