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

Redwire Co. (NYSE:RDW - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $11.68, but opened at $12.33. Redwire shares last traded at $12.27, with a volume of 289,949 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RDW. Roth Mkm increased their price target on shares of Redwire from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. Alliance Global Partners upped their price target on Redwire from $7.00 to $8.25 and gave the company a "buy" rating in a report on Tuesday, July 30th. Finally, B. Riley lowered Redwire from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Redwire has an average rating of "Moderate Buy" and an average target price of $8.55.

Redwire Stock Up 9.8 %

The stock has a market capitalization of $853.04 million, a P/E ratio of -10.26 and a beta of 1.93. The business has a 50-day simple moving average of $8.18 and a two-hundred day simple moving average of $6.82.

Institutional Investors Weigh In On Redwire

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Redwire in the 3rd quarter valued at $623,000. Vanguard Group Inc. raised its holdings in Redwire by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company's stock worth $4,912,000 after purchasing an additional 3,681 shares during the period. SG Americas Securities LLC grew its holdings in shares of Redwire by 17.2% in the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company's stock valued at $112,000 after buying an additional 2,296 shares during the period. Bank of New York Mellon Corp grew its stake in Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company's stock valued at $512,000 after acquiring an additional 59,372 shares during the period. Finally, Rhumbline Advisers increased its stake in Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company's stock worth $232,000 after purchasing an additional 12,703 shares in the last quarter. 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.

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