Redwire (NYSE:RDW) Shares Gap Up - What's Next?

Redwire Corporation (NYSE:RDW - Get Free Report)'s stock price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RDW. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Redwire from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. B. Riley reduced their target price on Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. HC Wainwright reaffirmed a "buy" rating and issued a $26.00 price target on shares of Redwire in a report on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.38.

Redwire Trading Down 4.2%

The stock has a market capitalization of $2.32 billion, a PE ratio of -7.18 and a beta of 2.53. The business has a fifty day moving average price of $13.96 and a 200-day moving average price of $14.64.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $61.40 million for the quarter, compared to the consensus estimate of $74.54 million. On average, equities analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Institutional Trading of Redwire

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in shares of Redwire by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company's stock worth $859,000 after buying an additional 3,357 shares during the period. Proficio Capital Partners LLC purchased a new position in Redwire in the 4th quarter worth approximately $278,000. US Bancorp DE bought a new stake in Redwire in the fourth quarter valued at approximately $119,000. Jones Financial Companies Lllp boosted its stake in shares of Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock valued at $72,000 after purchasing an additional 1,372 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Redwire by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company's stock worth $1,080,000 after purchasing an additional 2,533 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

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.