Redwire (NYSE:RDW) Stock Price Up 7.4% – Here’s Why

Redwire Co. (NYSE:RDW) traded up 7.4% during mid-day trading on Friday . The company traded as high as $11.85 and last traded at $11.76. 183,654 shares were traded during mid-day trading, a decline of 81% from the average session volume of 981,678 shares. The stock had previously closed at $10.95.

Analyst Ratings Changes

Several research analysts have recently commented on the company. B. Riley lowered their price target on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.71.

Redwire Trading Up 11.1 %

The company has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $13.49. The company has a market cap of $919.72 million, a PE ratio of -10.06 and a beta of 2.51.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $23.20, for a total value of $1,160,000.00. Following the sale, the insider now directly owns 3,754,041 shares in the company, valued at $87,093,751.20. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 66,798 shares of company stock valued at $1,554,641 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. boosted its holdings in Redwire by 1,172.5% in the first quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company’s stock valued at $67,000 after purchasing an additional 7,469 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Redwire by 656.7% in the 1st quarter. New York State Common Retirement Fund now owns 8,066 shares of the company’s stock valued at $67,000 after buying an additional 7,000 shares in the last quarter. LBP AM SA grew its position in shares of Redwire by 24.8% in the 1st quarter. LBP AM SA now owns 496,230 shares of the company’s stock valued at $4,114,000 after buying an additional 98,616 shares during the last quarter. Penserra Capital Management LLC raised its stake in Redwire by 37.0% during the 1st quarter. Penserra Capital Management LLC now owns 107,402 shares of the company’s stock worth $890,000 after acquiring an additional 29,013 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Redwire during the 1st quarter worth $139,000. 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.