Redwire (NYSE:RDW) Trading 6.1% Higher - What's Next?

Redwire Co. (NYSE:RDW - Get Free Report) traded up 6.1% during trading on Tuesday . The stock traded as high as $8.76 and last traded at $8.79. 386,935 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,085,392 shares. The stock had previously closed at $8.29.

Analyst Upgrades and Downgrades

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

Redwire Stock Performance

The firm's 50-day simple moving average is $15.81 and its two-hundred day simple moving average is $13.11. The stock has a market cap of $567.93 million, a price-to-earnings ratio of -6.21 and a beta of 2.51.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total value of $2,941,500.00. Following the transaction, the insider now owns 4,157,489 shares of the company's stock, valued at approximately $81,528,359.29. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 516,798 shares of company stock worth $10,763,141. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Redwire by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company's stock worth $212,000 after acquiring an additional 532 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Redwire by 7.8% during the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company's stock worth $179,000 after purchasing an additional 782 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of 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 boosted 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 valued at $72,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Redwire in the fourth quarter valued at approximately $33,000. 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.