Redwire (NYSE:RDW) Trading Up 2.3% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price rose 2.3% during trading on Thursday . The stock traded as high as $8.63 and last traded at $8.5970. Approximately 12,298,472 shares traded hands during trading, a decline of 59% from the average daily volume of 30,238,805 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research lowered Redwire from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Roth Mkm restated a “buy” rating and issued a $20.00 price objective on shares of Redwire in a research note on Wednesday, January 28th. Bank of America decreased their target price on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th. Truist Financial set a $13.00 price target on shares of Redwire in a report on Friday, January 9th. Finally, Cantor Fitzgerald decreased their price objective on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.75.

Redwire Stock Performance

The firm’s fifty day moving average price is $9.48 and its two-hundred day moving average price is $8.61. The stock has a market capitalization of $1.42 billion, a PE ratio of -2.71 and a beta of 2.45. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the sale, the director directly owned 61,541,253 shares of the company’s stock, valued at $646,798,569.03. This represents a 17.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 40,400,346 shares of company stock valued at $453,127,301 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of RDW. AE Industrial Partners LP increased its position in shares of Redwire by 139.3% in the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after buying an additional 49,765,262 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Redwire in the 3rd quarter valued at $20,372,000. Hood River Capital Management LLC acquired a new stake in Redwire in the 2nd quarter valued at $36,206,000. Cooper Creek Partners Management LLC acquired a new position in Redwire during the second quarter worth $32,652,000. Finally, State Street Corp raised its position in shares of Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.