Redwire (NYSE:RDW) Trading Up 8.7% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) traded up 8.7% during mid-day trading on Friday . The company traded as high as $8.05 and last traded at $8.2590. 1,905,442 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 13,577,814 shares. The stock had previously closed at $7.60.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of recent research reports. Truist Financial lowered their price objective on Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. Roth Capital reiterated a “buy” rating and set a $15.00 price target on shares of Redwire in a report on Thursday, November 6th. KeyCorp began coverage on shares of Redwire in a report on Thursday, December 18th. They issued a “sector weight” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $9.00 target price on shares of Redwire in a research note on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

Redwire Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -2.73 and a beta of 2.44. The firm’s fifty day moving average price is $6.68 and its 200 day moving average price is $10.05.

Insiders Place Their Bets

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

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares in the last quarter. AE Industrial Partners LP raised its position in Redwire by 139.3% in the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after purchasing an additional 49,765,262 shares in the last quarter. Canal Insurance CO purchased a new position in shares of Redwire in the 2nd quarter valued at about $3,260,000. Voya Investment Management LLC acquired a new position in shares of Redwire during the third quarter worth about $20,372,000. Finally, Geode Capital Management LLC increased its stake in shares of Redwire by 77.1% during the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after buying an additional 407,131 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.