Redwire (NYSE:RDW) Stock Price Up 11.1% - What's Next?

Redwire Co. (NYSE:RDW - Get Free Report) shares rose 11.1% during trading on Friday . The company traded as high as $10.27 and last traded at $10.42. Approximately 378,477 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 810,784 shares. The stock had previously closed at $9.38.

Analysts Set New Price Targets

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

Redwire Trading Up 2.9 %

The firm has a market capitalization of $751.91 million, a P/E ratio of -9.34 and a beta of 2.33. The firm has a 50 day moving average price of $17.77 and a 200-day moving average price of $12.78.

Insider Activity

In related news, major shareholder Park Lp Genesis II sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the completion of the sale, the insider now directly owns 4,157,489 shares of the company's stock, valued at approximately $81,528,359.29. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 684,454 shares of company stock valued at $13,682,993 in the last ninety days. Insiders own 2.60% of the company's stock.

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Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after acquiring an additional 101,620 shares during the last quarter. Barclays PLC lifted its stake in shares of Redwire by 6.5% during the 4th quarter. Barclays PLC now owns 1,258,366 shares of the company's stock worth $20,713,000 after acquiring an additional 77,228 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock worth $3,599,000 after acquiring an additional 30,963 shares during the last quarter. Federated Hermes Inc. increased its holdings in Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock worth $8,202,000 after purchasing an additional 310,769 shares during the period. Finally, State Street Corp increased its holdings in Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock worth $3,252,000 after purchasing an additional 35,519 shares during the period. 8.10% of the stock is owned by institutional investors.

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.