Redwire (NYSE:RDW) Stock Price Up 9.9% - What's Next?

Redwire Co. (NYSE:RDW - Get Free Report) rose 9.9% on Tuesday . The company traded as high as $9.97 and last traded at $9.98. Approximately 202,033 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 936,774 shares. The stock had previously closed at $9.08.

Analyst Ratings Changes

Several analysts have issued reports on RDW shares. HC Wainwright reissued a "buy" rating and issued a $26.00 price target on shares of Redwire in a research note on Wednesday, March 12th. B. Riley cut their target price on Redwire from $27.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price target on shares of Redwire in a research note on Tuesday, March 11th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.71.

Redwire Stock Up 3.1 %

The firm has a market capitalization of $765.78 million, a price-to-earnings ratio of -8.37 and a beta of 2.51. The stock's fifty day moving average is $12.63 and its two-hundred day moving average is $13.23.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 150,000 shares of the firm's stock in a transaction 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 owns 4,157,489 shares of the company's stock, valued at $81,528,359.29. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 416,798 shares of company stock worth $8,961,141. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Redwire

Several large investors have recently modified their holdings of the stock. Quarry LP bought a new position in Redwire in the 4th quarter valued at about $33,000. Summit Investment Advisors Inc. boosted its stake in Redwire by 64.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after purchasing an additional 931 shares during the period. Summit Securities Group LLC acquired a new position in Redwire in the 4th quarter valued at $63,000. Jones Financial Companies Lllp increased its position in Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after buying an additional 1,372 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Redwire in the first quarter valued at about $47,000. 8.10% of the stock is owned by institutional investors.

Redwire Company Profile

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.