Redwire Co. (NYSE:RDW – Get Free Report)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $22.19, but opened at $23.12. Redwire shares last traded at $22.84, with a volume of 461,101 shares changing hands.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on RDW shares. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. HC Wainwright upped their price objective on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald initiated coverage on Redwire in a report on Friday, January 24th. They issued an “overweight” rating and a $28.00 target price on the stock. Finally, Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.04.
Read Our Latest Analysis on RDW
Redwire Trading Up 1.6 %
Insider Activity
In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the sale, the insider now owns 4,598,056 shares in the company, valued at $82,810,988.56. This represents a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 617,656 shares of company stock worth $12,128,352. Company insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its stake in Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Redwire in the 3rd quarter valued at about $623,000. Van ECK Associates Corp bought a new position in shares of Redwire during the 4th quarter worth approximately $1,151,000. State Street Corp boosted its stake in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after buying an additional 35,519 shares during the last quarter. Finally, 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 valued at $3,599,000 after acquiring an additional 30,963 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.
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.
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