Redwire (NYSE:RDW) Trading Up 5.1% - Time to Buy?

Redwire Co. (NYSE:RDW - Get Free Report)'s stock price rose 5.1% on Wednesday . The company traded as high as $8.36 and last traded at $8.10. Approximately 227,364 shares changed hands during trading, a decline of 75% from the average daily volume of 915,614 shares. The stock had previously closed at $7.71.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RDW. B. Riley decreased their target price on Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Alliance Global Partners restated a "buy" rating on shares of Redwire in a research note on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and set a $26.00 price target on shares of Redwire in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Redwire has a consensus rating of "Moderate Buy" and an average price target of $17.71.

Redwire Price Performance

The company has a market cap of $686.20 million, a P/E ratio of -7.50 and a beta of 2.51. The company has a fifty day simple moving average of $13.88 and a 200-day simple moving average of $13.21.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $81,528,359.29. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 416,798 shares of company stock valued at $8,961,141 over the last three months. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Redwire by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after buying an additional 101,620 shares during the period. Barclays PLC boosted its position in Redwire by 6.5% during the 4th 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. Geode Capital Management LLC grew its stake in Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock valued at $3,599,000 after acquiring an additional 30,963 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Redwire by 165.7% in the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after purchasing an additional 310,769 shares during the period. Finally, State Street Corp increased its holdings in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock valued at $3,252,000 after purchasing an additional 35,519 shares during the period. 8.10% of the stock is currently 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.