Redwire (NYSE:RDW) Trading 7.7% Higher – Still a Buy?

Redwire Co. (NYSE:RDW)’s share price traded up 7.7% during trading on Wednesday . The company traded as high as $13.46 and last traded at $13.48. 947,713 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 742,817 shares. The stock had previously closed at $12.51.

Wall Street Analysts Forecast Growth

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

Redwire Price Performance

The company has a 50 day moving average of $18.68 and a two-hundred day moving average of $12.51. The company has a market capitalization of $805.28 million, a PE ratio of -10.00 and a beta of 2.33.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire 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 completion of the transaction, the insider now directly owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 684,454 shares of company stock valued at $13,682,993 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Redwire by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after acquiring an additional 532 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Redwire by 7.8% in the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock worth $179,000 after purchasing an additional 782 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after purchasing an additional 931 shares during the last quarter. Jones Financial Companies Lllp increased 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 in the last quarter. Finally, Quarry LP purchased a new position in Redwire in the fourth quarter worth about $33,000. 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.