Redwire (NYSE:RDW) Stock Price Up 11.1% – Still a Buy?

Shares of Redwire Co. (NYSE:RDW) were up 11.1% on Friday . The company traded as high as $10.27 and last traded at $10.42. Approximately 378,477 shares changed hands during trading, a decline of 53% from the average daily volume of 810,784 shares. The stock had previously closed at $9.38.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RDW shares. B. Riley cut their price objective on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of Redwire in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a report on Tuesday. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Tuesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.71.

Redwire Price Performance

The company has a market capitalization of $693.89 million, a P/E ratio of -8.60 and a beta of 2.33. The firm’s 50-day moving average is $18.05 and its 200-day moving average is $12.64.

Insider Activity at Redwire

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the sale, the insider now owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 684,454 shares of company stock worth $13,682,993. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Redwire during the 4th quarter valued at about $448,000. State Street Corp lifted its stake in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares during the last quarter. Brookstone Capital Management purchased a new position in shares of Redwire in the 4th quarter worth approximately $329,000. Stifel Financial Corp purchased a new stake in Redwire during the 3rd quarter valued at $139,000. Finally, Barclays PLC raised its stake in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.