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

Redwire Co. (NYSE:RDW) shares gapped up before the market opened on Tuesday . The stock had previously closed at $22.19, but opened at $23.12. Redwire shares last traded at $22.84, with a volume of 461,101 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RDW. HC Wainwright upped their target price on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.50 to $27.00 in a research report on Monday, January 27th. Roth Mkm boosted their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald assumed coverage on Redwire in a research report on Friday, January 24th. They set an “overweight” rating and a $28.00 price target for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Redwire has an average rating of “Buy” and an average target price of $18.04.

Redwire Stock Down 1.3 %

The business has a fifty day moving average price of $16.43 and a 200-day moving average price of $10.72.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the transaction, the insider now directly owns 4,603,427 shares of the company’s stock, valued at approximately $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 617,656 shares of company stock worth $12,128,352 over the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its holdings in Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Redwire during the third quarter valued at about $74,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire during the second quarter worth about $74,000. AQR Capital Management LLC bought a new stake in shares of Redwire in the second quarter worth about $89,000. Finally, MetLife Investment Management LLC increased its holdings in Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the period. 8.10% of the stock is currently owned by institutional investors.

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.