Redwire (NYSE:RDW) Trading 7.5% Higher – Still a Buy?

Redwire Co. (NYSE:RDW)’s stock price shot up 7.5% during trading on Monday . The company traded as high as $22.40 and last traded at $22.84. 464,850 shares were traded during trading, a decline of 76% from the average session volume of 1,965,807 shares. The stock had previously closed at $21.24.

Wall Street Analysts Forecast Growth

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

Redwire Trading Up 6.5 %

The business has a 50 day moving average price of $14.78 and a 200-day moving average price of $9.89. The company has a market cap of $1.51 billion, a P/E ratio of -18.86 and a beta of 2.17.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the sale, the insider now owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 417,656 shares of company stock worth $7,663,352 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Redwire during the third quarter worth about $623,000. State Street Corp boosted its position in 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 period. Brookstone Capital Management acquired a new position in Redwire in the 4th quarter valued at approximately $329,000. Stifel Financial Corp bought a new stake in shares of Redwire in the third quarter worth $139,000. Finally, Barclays PLC lifted its stake in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares during the period. 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.