Redwire (NYSE:RDW) Sees Large Volume Increase – What’s Next?

Redwire Co. (NYSE:RDW) shares saw unusually-high trading volume on Tuesday . Approximately 385,611 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 364,774 shares.The stock last traded at $14.30 and had previously closed at $13.77.

Wall Street Analyst Weigh In

RDW has been the topic of a number of research analyst reports. HC Wainwright initiated coverage on Redwire in a research note on Tuesday. They issued a “buy” rating and a $18.00 price target on the stock. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and raised their price target for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. Roth Mkm raised their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Trading Down 2.1 %

The firm has a market capitalization of $897.62 million, a price-to-earnings ratio of -11.15 and a beta of 1.93. The firm has a 50 day moving average price of $8.75 and a two-hundred day moving average price of $7.10.

Institutional Investors Weigh In On Redwire

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Redwire during the 3rd quarter valued at about $623,000. Vanguard Group Inc. raised its holdings in shares of Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after buying an additional 3,681 shares during the period. SG Americas Securities LLC raised its holdings in shares of Redwire by 17.2% during the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after buying an additional 2,296 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after buying an additional 59,372 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after buying an additional 12,703 shares during the period. 8.10% of the stock is currently 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.