Redwire (NYSE:RDW) Shares Gap Up – What’s Next?

Shares of Redwire Co. (NYSE:RDW) gapped up before the market opened on Monday . The stock had previously closed at $10.60, but opened at $11.16. Redwire shares last traded at $11.09, with a volume of 341,149 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RDW. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. B. Riley dropped their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a research note on Tuesday, March 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Redwire in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Trading Up 0.5 %

The firm has a market cap of $734.61 million, a P/E ratio of -9.12 and a beta of 2.33. The company’s 50 day simple moving average is $17.65 and its 200-day simple moving average is $12.81.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total transaction of $243,872.65. Following the transaction, the insider now owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. This represents a 0.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 684,454 shares of company stock worth $13,682,993. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of RDW. Penserra Capital Management LLC increased its position in shares of Redwire by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after purchasing an additional 10,558 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of 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 last quarter. Stifel Financial Corp purchased a new stake in shares of Redwire during the 3rd quarter valued at about $139,000. State Street Corp increased its position in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.