Redwire (NYSE:RDW) Shares Up 7.5% - Here's What Happened

Redwire Co. (NYSE:RDW - Get Free Report) traded up 7.5% during mid-day trading on Monday . The company traded as high as $22.40 and last traded at $22.84. 464,850 shares were traded during trading, a decline of 76% from the average session volume of 1,965,807 shares. The stock had previously closed at $21.24.

Analyst Upgrades and Downgrades

RDW has been the topic of several research reports. Roth Mkm lifted their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 8th. HC Wainwright lifted their price target on Redwire from $18.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Cantor Fitzgerald initiated coverage on Redwire in a research report on Friday. They set an "overweight" rating and a $28.00 price objective on the stock. Finally, B. Riley upgraded shares of Redwire from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.50 to $27.00 in a report on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Redwire currently has a consensus rating of "Buy" and a consensus price target of $18.04.

Redwire Trading Up 2.0 %

The stock has a 50-day moving average price of $14.78 and a two-hundred day moving average price of $9.89. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -17.91 and a beta of 2.17.

Insiders Place Their Bets

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of Redwire stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the sale, the insider now directly owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 517,656 shares of company stock valued at $9,855,352. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDW. SG Americas Securities LLC increased its holdings in shares of Redwire by 39.6% in the third quarter. SG Americas Securities LLC now owns 21,870 shares of the company's stock valued at $150,000 after purchasing an additional 6,200 shares during the period. MetLife Investment Management LLC boosted its position in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company's stock valued at $97,000 after buying an additional 7,921 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in Redwire in the fourth quarter valued at approximately $165,000. The Manufacturers Life Insurance Company acquired a new position in Redwire in the 2nd quarter worth approximately $74,000. Finally, Penserra Capital Management LLC raised its position in Redwire by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company's stock worth $512,000 after buying an additional 10,558 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

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.