Stock Traders Purchase High Volume of Call Options on Redwire (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the target of some unusual options trading on Friday. Stock traders acquired 23,986 call options on the stock. This is an increase of 59% compared to the average volume of 15,072 call options.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Canaccord Genuity Group lowered their target price on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Roth Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Redwire in a report on Thursday, November 6th. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Redwire in a research report on Tuesday, December 23rd. Finally, KeyCorp initiated coverage on Redwire in a report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Redwire Stock Up 15.6%

RDW stock traded up $1.19 during mid-day trading on Friday, hitting $8.79. The stock had a trading volume of 17,483,410 shares, compared to its average volume of 13,577,814. The company has a fifty day moving average of $6.68 and a 200 day moving average of $10.05. Redwire has a 1-year low of $4.87 and a 1-year high of $26.66. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -2.76 and a beta of 2.44. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

Insider Activity at Redwire

In related news, CAO Chris Edmunds purchased 5,500 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average price of $5.46 per share, with a total value of $30,030.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $6.21 per share, with a total value of $199,682.55. Following the completion of the acquisition, the chief executive officer owned 526,728 shares of the company’s stock, valued at $3,270,980.88. The trade was a 6.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 56,065 shares of company stock worth $330,047. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently modified their holdings of RDW. Abich Financial Wealth Management LLC acquired a new position in shares of Redwire in the 3rd quarter valued at $41,000. Russell Investments Group Ltd. lifted its stake in Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after purchasing an additional 3,672 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Redwire during the second quarter valued at approximately $54,000. Caitong International Asset Management Co. Ltd boosted its holdings in Redwire by 440.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after purchasing an additional 5,395 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Redwire in the 1st quarter valued at approximately $69,000. Institutional investors 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.