Redwire (NYSE:RDW) Sees Strong Trading Volume – Should You Buy?

Redwire Corporation (NYSE:RDW) shares saw strong trading volume on Monday . 4,855,903 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 4,255,248 shares.The stock last traded at $6.7310 and had previously closed at $7.29.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Industrial Alliance Securities set a $9.00 target price on shares of Redwire in a research report on Thursday, November 6th. Truist Financial decreased their price target on Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Canaccord Genuity Group cut their price objective on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Finally, Bank of America lowered their price target on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

Redwire Price Performance

The firm has a market capitalization of $1.15 billion, a P/E ratio of -2.19 and a beta of 2.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. The business has a fifty day moving average of $7.12 and a 200-day moving average of $10.92.

Insider Activity at Redwire

In other Redwire news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Anthony Cannito, Jr. purchased 32,155 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $6.21 per share, with a total value of $199,682.55. Following the completion of the purchase, the chief executive officer owned 526,728 shares in the company, valued at $3,270,980.88. This represents a 6.50% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 56,065 shares of company stock valued at $330,047. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Redwire by 352.8% in the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after purchasing an additional 276,814 shares in the last quarter. Canal Insurance CO acquired a new position in Redwire during the second quarter valued at $3,260,000. Jump Financial LLC purchased a new stake in Redwire in the 1st quarter worth about $425,000. Register Financial Advisors LLC acquired a new stake in Redwire during the 2nd quarter worth about $3,640,000. Finally, Geode Capital Management LLC grew its stake in Redwire by 77.1% during the 2nd quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock valued at $15,248,000 after acquiring an additional 407,131 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

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.