Redwire (NYSE:RDW) Shares Gap Up - Still a Buy?

Redwire Co. (NYSE:RDW - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $17.09, but opened at $17.44. Redwire shares last traded at $17.14, with a volume of 560,199 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RDW. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Redwire in a research report on Wednesday, December 11th. B. Riley lowered shares of 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 research report on Tuesday, October 29th. Roth Mkm increased their price objective on Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $6.00 price objective 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. According to data from MarketBeat, Redwire has an average rating of "Moderate Buy" and a consensus target price of $10.13.

Redwire Trading Up 0.2 %

The business's fifty day moving average price is $11.35 and its 200-day moving average price is $8.30. The company has a market capitalization of $1.14 billion, a P/E ratio of -14.15 and a beta of 2.25.

Hedge Funds Weigh In On Redwire

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in Redwire during the second quarter valued at approximately $74,000. Vontobel Holding Ltd. purchased a new stake in shares of Redwire in the 3rd quarter valued at $74,000. AQR Capital Management LLC bought a new position in shares of Redwire during the 2nd quarter valued at $89,000. MetLife Investment Management LLC raised 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 worth $97,000 after purchasing an additional 7,921 shares during the period. Finally, Stifel Financial Corp bought a new stake in Redwire in the third quarter worth $139,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.