Redwire (NYSE:RDW) Trading Up 8% - Should You Buy?

Redwire Co. (NYSE:RDW - Get Free Report)'s stock price was up 8% on Monday . The stock traded as high as $22.34 and last traded at $22.61. Approximately 403,274 shares were traded during trading, a decline of 80% from the average daily volume of 2,012,354 shares. The stock had previously closed at $20.93.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RDW. Cantor Fitzgerald initiated coverage on shares of Redwire in a research report on Friday, January 24th. They issued an "overweight" rating and a $28.00 price target for the company. B. Riley raised Redwire from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.50 to $27.00 in a research report on Monday, January 27th. HC Wainwright lifted their price target on Redwire from $18.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Finally, Roth Mkm increased their price target on Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.04.

Redwire Trading Up 2.8 %

The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -21.23 and a beta of 2.23. The firm's 50-day moving average is $17.36 and its two-hundred day moving average is $11.27.

Insider Activity at Redwire

In related news, major shareholder Park Lp Genesis II sold 6,683 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $22.56, for a total transaction of $150,768.48. Following the completion of the transaction, the insider now directly owns 3,704,664 shares of the company's stock, valued at $83,577,219.84. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 674,339 shares of company stock worth $13,439,120. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RDW. Ameritas Investment Partners Inc. increased its holdings in shares of Redwire by 64.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 2,382 shares of the company's stock valued at $39,000 after acquiring an additional 931 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Redwire during the 4th quarter valued at approximately $63,000. Jones Financial Companies Lllp raised its holdings in Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after purchasing an additional 1,372 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Redwire in the 3rd quarter worth about $74,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Redwire during the second quarter worth approximately $74,000. Hedge funds and other 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.