Insider Buying: Redwire (NYSE:RDW) CEO Buys $199,682.55 in Stock

Redwire Corporation (NYSE:RDW) CEO Peter Anthony Cannito, Jr. bought 32,155 shares of Redwire stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $6.21 per share, for a total transaction of $199,682.55. Following the acquisition, the chief executive officer owned 526,728 shares in the company, valued at $3,270,980.88. The trade was a 6.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Redwire Stock Down 2.5%

RDW stock opened at $5.98 on Thursday. The firm has a market cap of $860.64 million, a price-to-earnings ratio of -1.88 and a beta of 2.45. Redwire Corporation has a 1-year low of $5.72 and a 1-year high of $26.66. The firm has a fifty day moving average price of $8.38 and a two-hundred day moving average price of $11.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.11.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday. B. Riley decreased their target price on shares of Redwire from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Bank of America cut their price target on Redwire from $10.00 to $9.00 and set an “underperform” rating on the stock in a report on Friday, October 10th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.25.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Abich Financial Wealth Management LLC acquired a new stake in Redwire in the 3rd quarter valued at about $41,000. KLP Kapitalforvaltning AS bought a new stake in shares of Redwire in the 1st quarter worth approximately $42,000. Ameritas Advisory Services LLC acquired a new stake in Redwire during the second quarter valued at approximately $54,000. New York State Common Retirement Fund boosted its holdings in Redwire by 656.7% during the first quarter. New York State Common Retirement Fund now owns 8,066 shares of the company’s stock worth $67,000 after buying an additional 7,000 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Redwire by 1,172.5% in the first quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company’s stock worth $67,000 after buying an additional 7,469 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.