Traders Buy Large Volume of Call Options on Redwire (NYSE:RDW)

Redwire Co. (NYSE:RDW - Get Free Report) was the target of unusually large options trading on Monday. Stock investors acquired 4,373 call options on the stock. This is an increase of approximately 70% compared to the typical volume of 2,572 call options.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Redwire from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price objective on shares of Redwire in a research report on Tuesday, March 11th. B. Riley decreased their price objective on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Redwire in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.05.

Redwire Stock Up 10.0%

Shares of Redwire stock traded up $1.84 during midday trading on Monday, hitting $20.29. The company had a trading volume of 2,642,856 shares, compared to its average volume of 1,963,696. Redwire has a 12-month low of $4.87 and a 12-month high of $26.66. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -16.77 and a beta of 2.53. The company has a fifty day simple moving average of $11.53 and a 200 day simple moving average of $14.23.

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

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently bought and sold shares of RDW. Quarry LP purchased a new position in Redwire during the 4th quarter worth approximately $33,000. Summit Investment Advisors Inc. raised its position in Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock worth $39,000 after buying an additional 931 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Redwire during the 1st quarter worth approximately $42,000. FNY Investment Advisers LLC purchased a new position in Redwire during the 1st quarter worth approximately $47,000. Finally, GAMMA Investing LLC raised its position in Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock worth $52,000 after buying an additional 6,217 shares during the last quarter. 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.

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