Redwire (NYSE:RDW) Sees Large Volume Increase – Still a Buy?

Redwire Co. (NYSE:RDW) saw unusually-strong trading volume on Friday . Approximately 579,498 shares traded hands during mid-day trading, a decline of 24% from the previous session’s volume of 761,283 shares.The stock last traded at $11.85 and had previously closed at $12.36.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RDW. Cantor Fitzgerald initiated coverage on Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 price objective on the stock. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.50 to $27.00 in a report on Monday, January 27th. Roth Mkm lifted their price target on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright boosted their price objective on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Redwire has an average rating of “Buy” and a consensus price target of $18.04.

Redwire Stock Down 4.5 %

The stock has a market capitalization of $785.25 million, a PE ratio of -9.78 and a beta of 2.33. The stock’s 50 day moving average price is $18.68 and its 200-day moving average price is $12.51.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the sale, the insider now directly owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 684,454 shares of company stock valued at $13,682,993 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Public Employees Retirement System of Ohio acquired a new position in Redwire during the 4th quarter valued at about $587,000. Squarepoint Ops LLC acquired a new position in shares of Redwire in the fourth quarter valued at about $489,000. Two Sigma Advisers LP purchased a new position in shares of Redwire in the 4th quarter valued at about $339,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Redwire by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after purchasing an additional 532 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Redwire during the 4th quarter worth approximately $4,830,000. 8.10% of the stock is currently owned by institutional investors.

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.