Redwire (NYSE:RDW) Stock Price Up 6.2% - Time to Buy?

Redwire Co. (NYSE:RDW - Get Free Report) shares were up 6.2% during mid-day trading on Tuesday . The company traded as high as $14.96 and last traded at $14.79. Approximately 568,496 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,113,072 shares. The stock had previously closed at $13.93.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RDW shares. B. Riley reduced their price target 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 upgraded shares of Redwire from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. HC Wainwright restated a "buy" rating and set a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price target on shares of Redwire in a research note on Tuesday, March 11th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Redwire has an average rating of "Moderate Buy" and a consensus target price of $20.05.

Redwire Price Performance

The stock has a market cap of $1.31 billion, a PE ratio of -14.09 and a beta of 2.46. The company has a 50 day moving average price of $11.14 and a two-hundred day moving average price of $14.10.

Redwire (NYSE:RDW - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The business had revenue of $61.40 million during the quarter, compared to analysts' expectations of $74.54 million. As a group, equities analysts predict that Redwire Co. will post -0.85 earnings per share for the current fiscal year.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock valued at $21,573,000 after acquiring an additional 101,620 shares during the period. Barclays PLC boosted 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 purchasing an additional 77,228 shares during the period. Federated Hermes Inc. increased its stake in shares of Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock worth $8,202,000 after purchasing an additional 310,769 shares in the last quarter. LBP AM SA raised its stake in Redwire by 24.8% during the 1st quarter. LBP AM SA now owns 496,230 shares of the company's stock valued at $4,114,000 after purchasing an additional 98,616 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock valued at $2,945,000 after acquiring an additional 276,814 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

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.