Redwire (NYSE:RDW) Trading 17.5% Higher - What's Next?

Redwire Co. (NYSE:RDW - Get Free Report) shares traded up 17.5% on Monday . The stock traded as high as $20.66 and last traded at $21.69. 834,308 shares were traded during mid-day trading, a decline of 29% from the average session volume of 1,175,198 shares. The stock had previously closed at $18.45.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $26.00 target price on shares of Redwire in a research note on Wednesday, March 12th. Wall Street Zen upgraded shares of Redwire from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a report on Monday, May 12th. B. Riley dropped their price objective on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Redwire currently has an average rating of "Moderate Buy" and a consensus target price of $20.05.

Redwire Price Performance

The stock has a market capitalization of $1.54 billion, a PE ratio of -16.56 and a beta of 2.53. The business's fifty day moving average price is $11.74 and its two-hundred day moving average price is $14.28.

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 analysts' consensus estimates of ($0.20). The company had revenue of $61.40 million for the quarter, compared to analysts' expectations of $74.54 million. As a group, equities research analysts anticipate that Redwire Co. will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Redwire

Hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. purchased a new stake in Redwire in the fourth quarter valued at $1,398,000. Andar Capital Management HK Ltd acquired a new position in shares of Redwire in the fourth quarter worth about $3,621,000. Northern Trust Corp raised its position in shares of Redwire by 18.2% in the fourth quarter. Northern Trust Corp now owns 243,977 shares of the company's stock worth $4,016,000 after acquiring an additional 37,522 shares during the period. Barclays PLC raised its position in shares of Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company's stock worth $20,713,000 after acquiring an additional 77,228 shares during the period. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Redwire in the fourth quarter worth about $448,000. 8.10% of the stock is owned by hedge funds and other 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.