Redwire (NYSE:RDW) Trading Up 4.2% - Time to Buy?

Shares of Redwire Co. (NYSE:RDW - Get Free Report) traded up 4.2% during mid-day trading on Tuesday . The company traded as high as $12.18 and last traded at $12.01. 790,401 shares changed hands during trading, a decline of 6% from the average session volume of 840,069 shares. The stock had previously closed at $11.53.

Analyst Upgrades and Downgrades

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

Redwire Price Performance

The company has a market cap of $665.42 million, a price-to-earnings ratio of -7.28 and a beta of 2.33. The business's fifty day moving average price is $17.01 and its 200 day moving average price is $13.03.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 72,415 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $17.90, for a total value of $1,296,228.50. Following the sale, the insider now directly owns 4,422,853 shares of the company's stock, valued at approximately $79,169,068.70. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 594,584 shares of company stock worth $12,156,101. Insiders own 2.60% of the company's stock.

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Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. bought a new stake in Redwire during the fourth quarter valued at $448,000. Andar Capital Management HK Ltd bought a new stake in shares of Redwire during the 4th quarter valued at about $3,621,000. State Street Corp boosted its position in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock valued at $3,252,000 after purchasing an additional 35,519 shares in the last quarter. Brookstone Capital Management acquired a new stake in Redwire during the fourth quarter worth approximately $329,000. Finally, Proficio Capital Partners LLC bought a new stake in Redwire in the fourth quarter worth approximately $278,000. 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.