Redwire (NYSE:RDW) Shares Gap Up - Here's Why

Redwire Corporation (NYSE:RDW - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $15.36, but opened at $16.12. Redwire shares last traded at $15.96, with a volume of 1,123,063 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RDW. B. Riley decreased their target price on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Wall Street Zen downgraded Redwire from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Alliance Global Partners restated a "buy" rating on shares of Redwire in a report on Monday, May 12th. HC Wainwright restated a "buy" rating and issued a $26.00 price target on shares of Redwire in a report on Tuesday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Redwire has a consensus rating of "Moderate Buy" and an average target price of $20.05.

Redwire Trading Down 3.0%

The company's fifty day moving average is $13.83 and its 200 day moving average is $14.61.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $61.40 million during the quarter, compared to the consensus estimate of $74.54 million. Analysts forecast that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Redwire

A number of large investors have recently bought and sold shares of RDW. Strs Ohio bought a new stake in shares of Redwire during the 1st quarter valued at approximately $69,000. Bluefin Capital Management LLC acquired a new position in Redwire in the first quarter valued at approximately $167,000. Goldman Sachs Group Inc. grew its holdings in Redwire by 352.8% in the first 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 during the period. Sender Co & Partners Inc. acquired a new stake in shares of Redwire in the 1st quarter valued at about $230,000. Finally, AQR Capital Management LLC increased its holdings in shares of Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company's stock valued at $426,000 after acquiring an additional 28,576 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.