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 Monday . The stock had previously closed at $10.60, but opened at $11.16. Redwire shares last traded at $11.09, with a volume of 341,149 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $26.00 price target on shares of Redwire in a report on Wednesday, March 12th. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a report on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. Finally, B. Riley decreased their price objective on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Redwire has an average rating of "Moderate Buy" and a consensus target price of $17.71.

Redwire Trading Up 1.0 %

The firm's fifty day moving average is $17.46 and its 200 day moving average is $12.79. The company has a market cap of $758.90 million, a PE ratio of -9.43 and a beta of 2.33.

Insider Transactions at Redwire

In related news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the sale, the insider now directly owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. The trade was a 0.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 684,454 shares of company stock valued at $13,682,993 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

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Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in RDW. Quarry LP acquired a new position in Redwire in the 4th quarter valued at $33,000. Summit Investment Advisors Inc. grew its holdings in shares of Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock worth $39,000 after buying an additional 931 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Redwire during the fourth quarter worth $63,000. Jones Financial Companies Lllp lifted its stake in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after buying an additional 1,372 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company's stock worth $97,000 after buying an additional 7,921 shares in the last quarter. Hedge funds and other institutional investors 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.