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

Redwire Co. (NYSE:RDW)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $7.85, but opened at $8.59. Redwire shares last traded at $8.49, with a volume of 182,209 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. B. Riley lowered their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.71.

Redwire Price Performance

The company has a fifty day moving average price of $15.54 and a 200 day moving average price of $13.16. The company has a market cap of $610.10 million, a PE ratio of -6.71 and a beta of 2.51.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the stock in a transaction that occurred on 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 directly owns 3,644,566 shares in the company, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 416,798 shares of company stock valued at $8,961,141 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Redwire by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock valued at $21,573,000 after acquiring an additional 101,620 shares during the last quarter. Barclays PLC boosted its stake in shares of Redwire by 6.5% during the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock valued at $20,713,000 after purchasing an additional 77,228 shares during the period. Geode Capital Management LLC grew its holdings in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after purchasing an additional 30,963 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after buying an additional 310,769 shares during the period. Finally, State Street Corp raised its holdings in 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 buying an additional 35,519 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

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.