HC Wainwright Forecasts Strong Price Appreciation for Redwire (NYSE:RDW) Stock

Redwire (NYSE:RDW - Get Free Report) had its price objective upped by equities researchers at HC Wainwright from $18.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 20.06% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. Finally, B. Riley downgraded Redwire from a "buy" rating to a "neutral" rating and upped their target price for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.46.

Redwire Trading Down 3.0 %

NYSE:RDW traded down $0.68 on Wednesday, hitting $21.66. 3,829,480 shares of the stock were exchanged, compared to its average volume of 2,095,670. Redwire has a fifty-two week low of $2.76 and a fifty-two week high of $22.50. The stock has a fifty day moving average of $14.10 and a 200-day moving average of $9.58. The stock has a market cap of $1.44 billion, a PE ratio of -17.90 and a beta of 2.17.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 89,870 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the transaction, the insider now owns 4,603,427 shares of the company's stock, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 267,656 shares of company stock valued at $4,721,852. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Arkadios Wealth Advisors bought a new position in Redwire during the 4th quarter worth approximately $165,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire during the 2nd quarter worth approximately $74,000. Vontobel Holding Ltd. acquired a new stake in shares of Redwire during the 3rd quarter worth approximately $74,000. AQR Capital Management LLC acquired a new stake in Redwire in the 2nd quarter valued at approximately $89,000. Finally, MetLife Investment Management LLC increased its position in Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company's stock valued at $97,000 after acquiring an additional 7,921 shares during the period. 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.