Redwire (NYSE:RDW) Shares Gap Up - Should You Buy?

Redwire Co. (NYSE:RDW - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $12.03, but opened at $12.41. Redwire shares last traded at $12.67, with a volume of 123,605 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on RDW. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Redwire in a research note on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $6.00 price objective on shares of Redwire in a report on Monday, September 30th. B. Riley cut Redwire from a "buy" rating to a "neutral" rating and upped their price target for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Roth Mkm raised their price objective on shares of Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Redwire presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.13.

Redwire Stock Performance

The company has a market capitalization of $906.29 million, a price-to-earnings ratio of -11.26 and a beta of 2.25. The company has a fifty day simple moving average of $10.21 and a two-hundred day simple moving average of $7.77.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in Redwire in the 3rd quarter worth approximately $74,000. The Manufacturers Life Insurance Company acquired a new position in shares of Redwire in the 2nd quarter valued at approximately $74,000. AQR Capital Management LLC bought a new stake in Redwire in the second quarter valued at about $89,000. MetLife Investment Management LLC raised its holdings in shares of Redwire by 129.1% during the third 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, SG Americas Securities LLC boosted its stake in Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company's stock valued at $112,000 after acquiring an additional 2,296 shares during the period. 8.10% of the stock is currently 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.