Redwire (NYSE:RDW) Trading 9.9% Higher - Time to Buy?

Redwire Co. (NYSE:RDW - Get Free Report)'s share price traded up 9.9% during mid-day trading on Tuesday . The stock traded as high as $9.97 and last traded at $9.98. 202,033 shares changed hands during trading, a decline of 78% from the average session volume of 936,774 shares. The stock had previously closed at $9.08.

Analysts Set New Price Targets

RDW has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price target on shares of Redwire in a report on Tuesday, March 11th. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and issued a $26.00 price objective on shares of Redwire in a research report on Wednesday, March 12th. Finally, B. Riley cut their target price on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.71.

Redwire Stock Up 3.1 %

The stock's 50-day simple moving average is $12.63 and its two-hundred day simple moving average is $13.28. The company has a market capitalization of $765.78 million, a price-to-earnings ratio of -8.37 and a beta of 2.51.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 150,000 shares of Redwire stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the sale, the insider now owns 4,157,489 shares of the company's stock, valued at $81,528,359.29. The trade was a 3.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 416,798 shares of company stock worth $8,961,141. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Redwire by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company's stock worth $212,000 after purchasing an additional 532 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Redwire by 7.8% during the fourth quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company's stock worth $179,000 after buying an additional 782 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Redwire by 64.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after buying an additional 931 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after acquiring an additional 1,372 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Redwire during the 4th quarter valued at about $33,000. 8.10% of the stock is 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.