Redwire (NYSE:RDW) Trading 1.6% Higher – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price was up 1.6% during mid-day trading on Monday . The company traded as high as $8.15 and last traded at $8.1150. Approximately 10,246,643 shares were traded during trading, a decline of 65% from the average daily volume of 29,191,781 shares. The stock had previously closed at $7.99.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. iA Financial set a $9.00 price target on Redwire in a research report on Thursday, November 6th. Truist Financial set a $13.00 target price on shares of Redwire in a report on Friday, January 9th. Roth Mkm restated a “buy” rating and set a $20.00 price target on shares of Redwire in a report on Wednesday, January 28th. Bank of America reduced their price target on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, November 19th. Finally, Canaccord Genuity Group lowered their price objective 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. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.75.

Redwire Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -2.56 and a beta of 2.44. The firm’s fifty day moving average is $9.54 and its 200 day moving average is $8.47.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total value of $133,021,738.33. Following the transaction, the director directly owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. This represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 40,400,346 shares of company stock worth $453,127,301. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares during the last quarter. Invesco Ltd. raised its position in Redwire by 101.7% during the fourth quarter. Invesco Ltd. now owns 1,295,461 shares of the company’s stock valued at $9,846,000 after acquiring an additional 653,043 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Redwire in the fourth quarter worth approximately $114,000. Vident Advisory LLC increased its stake in shares of Redwire by 7.8% during the 4th quarter. Vident Advisory LLC now owns 94,032 shares of the company’s stock worth $715,000 after purchasing an additional 6,844 shares during the last quarter. Finally, VARCOV Co. acquired a new position in shares of Redwire during the 4th quarter worth $84,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.