Redwire (NYSE:RDW) Shares Up 12.7% – Still a Buy?

Shares of Redwire Corporation (NYSE:RDW) rose 12.7% during mid-day trading on Friday . The stock traded as high as $7.72 and last traded at $7.91. Approximately 3,338,806 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 4,352,440 shares. The stock had previously closed at $7.02.

Wall Street Analyst Weigh In

RDW has been the subject of several research analyst reports. Industrial Alliance Securities set a $9.00 price target on Redwire in a report on Thursday, November 6th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Roth Capital reissued a “buy” rating and issued a $15.00 target price on shares of Redwire in a report on Thursday, November 6th. Canaccord Genuity Group reduced their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Cantor Fitzgerald decreased their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

Redwire Trading Up 11.0%

The company’s 50 day moving average price is $6.82 and its two-hundred day moving average price is $10.76. The firm has a market cap of $1.29 billion, a PE ratio of -2.47 and a beta of 2.48. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling

In other Redwire news, EVP Aaron Michael Futch purchased 18,410 shares of Redwire stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $5.45 per share, for a total transaction of $100,334.50. Following the completion of the acquisition, the executive vice president owned 88,704 shares in the company, valued at $483,436.80. This represents a 26.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Chris Edmunds purchased 5,500 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $5.46 per share, with a total value of $30,030.00. Following the completion of the purchase, the chief accounting officer directly owned 107,441 shares in the company, valued at $586,627.86. The trade was a 5.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 56,065 shares of company stock valued at $330,047 in the last ninety days. 2.60% of the stock is owned by company insiders.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of RDW. Deutsche Bank AG lifted its position in shares of Redwire by 40.0% during the first quarter. Deutsche Bank AG now owns 14,072 shares of the company’s stock worth $117,000 after purchasing an additional 4,017 shares during the last quarter. Swiss National Bank purchased a new position in Redwire in the 1st quarter worth about $428,000. Nuveen LLC bought a new stake in Redwire during the 1st quarter valued at about $761,000. Quantbot Technologies LP boosted its position in Redwire by 168.1% in the 1st quarter. Quantbot Technologies LP now owns 25,109 shares of the company’s stock valued at $208,000 after buying an additional 15,742 shares during the period. Finally, Jump Financial LLC bought a new position in Redwire in the 1st quarter worth about $425,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.