Short Interest in Redwire Co. (NYSE:RDW) Grows By 24.2%

Redwire Co. (NYSE:RDW) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,520,000 shares, an increase of 24.2% from the February 28th total of 3,640,000 shares. Based on an average trading volume of 2,010,000 shares, the short-interest ratio is currently 2.2 days. Approximately 17.7% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.02, for a total transaction of $1,802,000.00. Following the sale, the insider now directly owns 4,322,853 shares in the company, valued at $77,897,811.06. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 589,213 shares of company stock worth $12,059,370 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Redwire during the fourth quarter worth $33,000. Summit Investment Advisors Inc. boosted its position in Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after acquiring an additional 931 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Redwire during the 4th quarter worth about $63,000. Jones Financial Companies Lllp raised its position in shares of Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares in the last quarter. Finally, US Bancorp DE acquired a new position in shares of Redwire in the 4th quarter valued at about $119,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Stock Up 3.3 %

Shares of NYSE RDW traded up $0.28 during trading on Tuesday, reaching $8.57. The company had a trading volume of 1,558,873 shares, compared to its average volume of 878,711. The stock has a market cap of $647.36 million, a P/E ratio of -7.08 and a beta of 2.33. The company’s fifty day moving average price is $16.60 and its 200-day moving average price is $13.11. Redwire has a 12 month low of $3.39 and a 12 month high of $26.66.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of recent analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of Redwire in a research report on Wednesday, March 12th. Finally, B. Riley lowered their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.71.

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.