Redwire (NYSE:RDW) Stock Price Up 5.1% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price shot up 5.1% during mid-day trading on Wednesday . The stock traded as high as $8.68 and last traded at $8.4050. 15,234,038 shares changed hands during trading, a decline of 51% from the average session volume of 30,794,783 shares. The stock had previously closed at $8.00.

Analysts Set New Price Targets

Several brokerages have weighed in on RDW. Canaccord Genuity Group dropped their price objective on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Zacks Research lowered shares of Redwire from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Cantor Fitzgerald dropped their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Bank of America reduced their target price on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th. Finally, Roth Mkm restated a “buy” rating and set a $20.00 price objective on shares of Redwire in a report on Wednesday, January 28th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus price target of $13.75.

Redwire Price Performance

The business’s fifty day simple moving average is $9.46 and its 200-day simple moving average is $8.61. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.39 billion, a P/E ratio of -2.65 and a beta of 2.45.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 49,985 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total transaction of $500,349.85. Following the sale, the director owned 45,094,000 shares of the company’s stock, valued at approximately $451,390,940. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 40,400,346 shares of company stock worth $453,127,301. 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 modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of Redwire by 125.0% in the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after acquiring an additional 28,576 shares during the period. Goldman Sachs Group Inc. lifted its stake in Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares in the last quarter. Strs Ohio bought a new position in Redwire in the 1st quarter valued at $69,000. KLP Kapitalforvaltning AS grew its position in shares of Redwire by 149.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,700 shares of the company’s stock valued at $207,000 after purchasing an additional 7,600 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of Redwire during the 2nd quarter valued at $562,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.