Redwire (NYSE:RDW) Sees Large Volume Increase – Still a Buy?

Redwire Corporation (NYSE:RDW) shares saw unusually-strong trading volume on Monday . Approximately 2,892,924 shares were traded during trading, a decline of 28% from the previous session’s volume of 4,021,375 shares.The stock last traded at $6.7270 and had previously closed at $6.39.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Truist Financial lowered their price objective on Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Bank of America reduced their price target on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Finally, Canaccord Genuity Group cut their price target on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.50.

Redwire Stock Performance

The stock has a market cap of $1.14 billion, a P/E ratio of -2.15 and a beta of 2.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. The company has a fifty day moving average of $7.27 and a 200 day moving average of $11.08.

Insider Buying and Selling

In related news, EVP Aaron Michael Futch purchased 18,410 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $5.45 per share, for a total transaction of $100,334.50. Following the transaction, the executive vice president directly owned 88,704 shares of the company’s stock, valued at $483,436.80. This trade represents a 26.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total value of $86,130,000.00. The SEC filing for this sale provides additional information. Insiders purchased a total of 56,065 shares of company stock worth $330,047 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds have recently made changes to their positions in RDW. Abich Financial Wealth Management LLC acquired a new position in Redwire during the third quarter valued at $41,000. Russell Investments Group Ltd. grew its position in Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Redwire in the 2nd quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Redwire by 440.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after acquiring an additional 5,395 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Redwire in the first quarter worth $69,000. 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.