Redwire (NYSE:RDW) Trading 3.7% Higher – Here’s What Happened

Redwire Corporation (NYSE:RDW) shares traded up 3.7% during trading on Tuesday . The stock traded as high as $8.45 and last traded at $8.4230. 9,714,158 shares changed hands during trading, a decline of 66% from the average session volume of 28,655,400 shares. The stock had previously closed at $8.12.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RDW shares. Truist Financial set a $13.00 price target on Redwire in a report on Friday, January 9th. Cantor Fitzgerald cut their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. KeyCorp started coverage on shares of Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Canaccord Genuity Group lowered 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, November 12th. Finally, Zacks Research lowered shares of Redwire from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Redwire presently has a consensus rating of “Hold” and an average price target of $13.75.

Redwire Price Performance

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -2.66 and a beta of 2.44. 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 company’s 50 day moving average is $9.54 and its 200 day moving average is $8.47.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the completion of the sale, the director owned 61,541,253 shares in the company, valued at approximately $646,798,569.03. The trade was a 17.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 40,400,346 shares of company stock worth $453,127,301. Company 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 made changes to their positions in RDW. AE Industrial Partners LP increased its position in Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares during the period. State Street Corp raised its stake in shares of Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Redwire by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after purchasing an additional 91,045 shares during the period. Voya Investment Management LLC acquired a new position in Redwire in the 3rd quarter valued at $20,372,000. Finally, Hood River Capital Management LLC acquired a new position in Redwire in the 2nd quarter valued at $36,206,000. 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.