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 $7.85, but opened at $8.59. Redwire shares last traded at $8.49, with a volume of 182,209 shares traded.

Analyst Ratings Changes

RDW has been the topic of a number of analyst reports. Alliance Global Partners restated a "buy" rating on shares of Redwire in a research note on Tuesday, March 11th. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 target price on shares of Redwire in a research report on Tuesday, March 11th. B. Riley cut their price target on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Finally, HC Wainwright reissued a "buy" rating and set a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Redwire has an average rating of "Moderate Buy" and a consensus price target of $17.71.

Redwire Stock Performance

The firm has a market capitalization of $696.41 million, a PE ratio of -7.62 and a beta of 2.51. The firm's 50-day moving average is $13.88 and its 200 day moving average is $13.17.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 100,000 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider now directly owns 4,007,489 shares in the company, valued at $87,844,158.88. This represents a 2.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 416,798 shares of company stock worth $8,961,141 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company's stock worth $8,115,000 after purchasing an additional 422,854 shares during the last quarter. Federated Hermes Inc. boosted its position in Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock worth $8,202,000 after acquiring an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Redwire in the 4th quarter worth approximately $4,830,000. EAM Global Investors LLC acquired a new position in Redwire in the 4th quarter valued at $4,689,000. Finally, Andar Capital Management HK Ltd purchased a new position in shares of Redwire during the 4th quarter worth $3,621,000. Institutional investors and hedge funds 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.