Redwire (NYSE:RDW) Shares Up 8% - Time to Buy?

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

Analyst Upgrades and Downgrades

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

Redwire Trading Down 8.0 %

The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -19.50 and a beta of 2.23. The stock has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $11.55.

Insider Transactions at Redwire

In other 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 674,339 shares of company stock valued at $13,439,120 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Redwire

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in Redwire in the 2nd quarter worth $89,000. The Manufacturers Life Insurance Company purchased a new position in Redwire in the 2nd quarter worth $74,000. SG Americas Securities LLC raised its stake in Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company's stock worth $150,000 after acquiring an additional 6,200 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Redwire in the 3rd quarter worth $74,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Redwire in the 3rd quarter worth $623,000. Institutional investors and hedge funds 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.