Redwire (NYSE:RDW) Shares Gap Up - What's Next?

Shares of Redwire Co. (NYSE:RDW - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $22.19, but opened at $23.12. Redwire shares last traded at $22.84, with a volume of 461,101 shares traded.

Wall Street Analyst Weigh In

Several research analysts have commented on RDW shares. Cantor Fitzgerald began coverage on Redwire in a research note on Friday, January 24th. They set an "overweight" rating and a $28.00 target price for the company. B. Riley upgraded shares of Redwire from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Roth Mkm upped their price target on shares of Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, HC Wainwright raised their price objective on Redwire from $18.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $18.04.

Redwire Price Performance

The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -17.33 and a beta of 2.23. The stock has a fifty day moving average of $16.60 and a two-hundred day moving average of $10.80.

Insider Buying and Selling

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 stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the sale, the insider now directly owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 667,656 shares of company stock valued at $13,288,352 over the last ninety days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company's stock valued at $8,115,000 after purchasing an additional 422,854 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Redwire in the 3rd quarter valued at $623,000. Van ECK Associates Corp bought a new position in shares of Redwire during the fourth quarter valued at about $1,151,000. State Street Corp boosted its holdings in Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company's stock worth $3,252,000 after purchasing an additional 35,519 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock valued at $3,599,000 after acquiring an additional 30,963 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.