Redwire (NYSE:RDW) Trading 6.7% Higher – Should You Buy?

Redwire Co. (NYSE:RDW)’s share price traded up 6.7% during trading on Friday . The company traded as high as $18.25 and last traded at $18.19. 141,255 shares traded hands during 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 research analysts recently commented on RDW shares. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and increased their price objective for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Redwire in a research note on Wednesday, December 11th. Roth Mkm upped their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.13.

Redwire Trading Up 6.2 %

The firm’s fifty day simple moving average is $12.35 and its two-hundred day simple moving average is $8.76. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -14.95 and a beta of 2.25.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the transaction, the insider now owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently made changes to their positions in RDW. SG Americas Securities LLC grew its position in Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock valued at $150,000 after acquiring an additional 6,200 shares in the last quarter. MetLife Investment Management LLC boosted its position in Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Redwire in the second quarter worth $74,000. Penserra Capital Management LLC increased its position in shares of Redwire by 16.5% during the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after acquiring an additional 10,558 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Redwire in the third quarter valued at $74,000. Hedge funds and other 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.