Redwire Sees Unusually High Options Volume (NYSE:RDW)

Redwire Co. (NYSE:RDW - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors purchased 4,373 call options on the stock. This is an increase of 70% compared to the average daily volume of 2,572 call options.

Redwire Trading Down 3.6%

Shares of Redwire stock traded down $0.72 during midday trading on Thursday, reaching $19.34. The company had a trading volume of 1,919,061 shares, compared to its average volume of 1,218,188. The stock has a fifty day simple moving average of $12.42 and a 200 day simple moving average of $14.39. Redwire has a 1-year low of $4.87 and a 1-year high of $26.66. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -15.98 and a beta of 2.53.

Redwire (NYSE:RDW - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $61.40 million during the quarter, compared to analyst estimates of $74.54 million. Sell-side analysts expect that Redwire will post -0.85 earnings per share for the current year.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Redwire by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock valued at $21,573,000 after purchasing an additional 101,620 shares during the last quarter. Barclays PLC lifted its holdings in Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company's stock valued at $20,713,000 after buying an additional 77,228 shares during the period. Federated Hermes Inc. boosted its stake in Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after acquiring an additional 310,769 shares during the last quarter. LBP AM SA grew its holdings in Redwire by 24.8% during the 1st quarter. LBP AM SA now owns 496,230 shares of the company's stock worth $4,114,000 after acquiring an additional 98,616 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Redwire by 352.8% during the 1st 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 during the last quarter. 8.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on RDW shares. B. Riley dropped their price objective 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. Alliance Global Partners restated a "buy" rating on shares of Redwire in a research report on Monday, May 12th. HC Wainwright reiterated a "buy" rating and issued a $26.00 price objective on shares of Redwire in a research report on Wednesday, March 12th. Wall Street Zen raised Redwire from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.05.

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.