Redwire (NYSE:RDW) Sees Unusually-High Trading Volume – Still a Buy?

Redwire Corporation (NYSE:RDW) saw unusually-strong trading volume on Monday . Approximately 6,300,333 shares were traded during trading, an increase of 40% from the previous session’s volume of 4,499,362 shares.The stock last traded at $8.6050 and had previously closed at $8.00.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Industrial Alliance Securities set a $9.00 price target on shares of Redwire in a research report on Thursday, November 6th. Cantor Fitzgerald dropped their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Finally, Truist Financial cut their price objective on Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.50.

Redwire Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -2.65 and a beta of 2.48. The stock has a 50 day simple moving average of $6.81 and a 200 day simple moving average of $10.64.

Insider Activity at Redwire

In other Redwire news, EVP Aaron Michael Futch purchased 18,410 shares of the stock in a transaction dated Friday, November 14th. The shares were bought at an average cost of $5.45 per share, with a total value of $100,334.50. Following the completion of the acquisition, the executive vice president owned 88,704 shares of the company’s stock, valued at approximately $483,436.80. This trade represents a 26.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Chris Edmunds acquired 5,500 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $5.46 per share, for a total transaction of $30,030.00. Following the completion of the purchase, the chief accounting officer owned 107,441 shares of the company’s stock, valued at approximately $586,627.86. This represents a 5.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 56,065 shares of company stock worth $330,047 in the last three months. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently modified their holdings of RDW. Gabelli Funds LLC increased its stake in Redwire by 7.4% in the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company’s stock worth $156,000 after purchasing an additional 1,300 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Redwire by 10.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company’s stock valued at $302,000 after purchasing an additional 1,751 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Redwire by 24.0% in the third quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock worth $111,000 after buying an additional 2,442 shares during the last quarter. Finally, Huntleigh Advisors Inc. grew its holdings in Redwire by 4.2% during the third quarter. Huntleigh Advisors Inc. now owns 61,837 shares of the company’s stock valued at $556,000 after purchasing an additional 2,488 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.