Short Interest in Redwire Co. (NYSE:RDW) Decreases By 18.2%

Redwire Co. (NYSE:RDW) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 3,640,000 shares, a drop of 18.2% from the February 13th total of 4,450,000 shares. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is currently 2.0 days. Approximately 16.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

RDW has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Redwire in a research note on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Redwire in a research report on Tuesday, March 11th. B. Riley decreased their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Trading Up 0.7 %

NYSE RDW traded up $0.08 on Thursday, hitting $11.50. 259,483 shares of the company traded hands, compared to its average volume of 2,140,078. The business’s 50 day moving average price is $17.56 and its 200-day moving average price is $12.80. The company has a market capitalization of $765.22 million, a price-to-earnings ratio of -9.50 and a beta of 2.33. Redwire has a 52-week low of $3.39 and a 52-week high of $26.66.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 89,870 shares of Redwire stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $16.99, for a total value of $1,526,891.30. Following the completion of the transaction, the insider now directly owns 4,603,427 shares of the company’s stock, valued at approximately $78,212,224.73. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 684,454 shares of company stock valued at $13,682,993. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Redwire during the 4th quarter valued at $33,000. Summit Investment Advisors Inc. boosted its stake in shares of Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after acquiring an additional 931 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Redwire during the fourth quarter worth about $63,000. Jones Financial Companies Lllp raised its stake 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 purchasing an additional 1,372 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other 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.