Redwire (NYSE:RDW) Shares Gap Up – Here’s Why

Redwire Co. (NYSE:RDW) gapped up prior to trading on Wednesday . The stock had previously closed at $9.43, but opened at $10.19. Redwire shares last traded at $10.40, with a volume of 326,302 shares changing hands.

Analyst Ratings Changes

RDW has been the subject of a number of recent analyst reports. B. Riley dropped their price target 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. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 target price on shares of Redwire in a research report on Tuesday, March 11th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Trading Up 8.1 %

The firm has a market capitalization of $830.55 million, a price-to-earnings ratio of -9.08 and a beta of 2.51. The stock’s fifty day moving average price is $11.47 and its two-hundred day moving average price is $13.31.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 100,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $22.73, for a total value of $2,273,000.00. Following the completion of the transaction, the insider now owns 3,854,041 shares in the company, valued at approximately $87,602,351.93. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 166,798 shares of company stock worth $3,827,641 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of RDW. Quarry LP purchased a new position in shares of Redwire during the fourth quarter worth about $33,000. Summit Investment Advisors Inc. grew its stake 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. Summit Securities Group LLC acquired a new position in Redwire during the fourth quarter worth approximately $63,000. Jones Financial Companies Lllp lifted its stake in Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Redwire in the first quarter valued at approximately $47,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.