Short Interest in Redwire Co. (NYSE:RDW) Grows By 24.2%

Redwire Co. (NYSE:RDW) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 4,520,000 shares, a growth of 24.2% from the February 28th total of 3,640,000 shares. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 17.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the transaction, the insider now owns 4,157,489 shares of the company’s stock, valued at $81,528,359.29. This represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 589,213 shares of company stock worth $12,059,370 in the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Redwire during the fourth quarter worth about $33,000. Summit Investment Advisors Inc. grew its stake in shares of Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after buying an additional 931 shares during the last quarter. Summit Securities Group LLC bought a new position in Redwire during the 4th quarter worth approximately $63,000. Jones Financial Companies Lllp increased its stake in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after buying an additional 1,372 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after acquiring an additional 7,921 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Trading Up 3.3 %

Shares of Redwire stock traded up $0.28 on Tuesday, reaching $8.57. The stock had a trading volume of 1,558,873 shares, compared to its average volume of 878,711. The business’s 50 day moving average is $16.60 and its two-hundred day moving average is $13.11. The company has a market cap of $647.36 million, a P/E ratio of -7.08 and a beta of 2.33. Redwire has a 1 year low of $3.39 and a 1 year high of $26.66.

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.