Redwire (NYSE:RDW) Sees Large Volume Increase – What’s Next?

Redwire Co. (NYSE:RDW) shares saw unusually-strong trading volume on Tuesday . Approximately 385,611 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 364,774 shares.The stock last traded at $14.30 and had previously closed at $13.77.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RDW shares. HC Wainwright began coverage on Redwire in a research note on Tuesday. They issued a “buy” rating and a $18.00 price target on the stock. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. Alliance Global Partners lifted their price objective on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Roth Mkm lifted their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Stock Performance

The stock has a market cap of $900.95 million, a PE ratio of -11.37 and a beta of 1.93. The stock has a fifty day simple moving average of $8.46 and a two-hundred day simple moving average of $6.99.

Hedge Funds Weigh In On Redwire

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after buying an additional 422,854 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after buying an additional 3,681 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after buying an additional 30,963 shares during the last quarter. State Street Corp boosted its stake in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Redwire during the 3rd quarter valued at approximately $623,000. 8.10% of the stock is currently 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.