Redwire Co. (NYSE:RDW) Receives Consensus Rating of "Buy" from Analysts

Shares of Redwire Co. (NYSE:RDW - Get Free Report) have been assigned a consensus rating of "Buy" from the six research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $18.04.

Several research firms recently commented on RDW. Roth Mkm upped their price target on shares of Redwire from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, November 8th. B. Riley upgraded shares of Redwire from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Cantor Fitzgerald began coverage on shares of Redwire in a research report on Friday, January 24th. They issued an "overweight" rating and a $28.00 price target for the company. Finally, HC Wainwright upped their price target on shares of Redwire from $18.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the company'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 completion of the transaction, the insider now owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. This represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 674,339 shares of company stock worth $13,439,120. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Large investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Redwire during the 4th quarter worth $63,000. Jones Financial Companies Lllp grew its stake in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after purchasing an additional 1,372 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of Redwire during the 3rd quarter worth $74,000. The Manufacturers Life Insurance Company acquired a new position in shares of Redwire during the 2nd quarter worth $74,000. Finally, AQR Capital Management LLC acquired a new position in shares of Redwire during the 2nd quarter worth $89,000. Hedge funds and other institutional investors own 8.10% of the company's stock.

Redwire Price Performance

Shares of Redwire stock traded up $3.04 during trading hours on Friday, hitting $24.97. The company had a trading volume of 2,688,899 shares, compared to its average volume of 2,097,509. The company's 50-day moving average is $17.12 and its two-hundred day moving average is $11.17. Redwire has a twelve month low of $2.89 and a twelve month high of $26.66. The company has a market cap of $1.66 billion, a P/E ratio of -20.64 and a beta of 2.23.

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.