Redwire (NYSE:RDW) Trading 6.7% Higher – Here’s What Happened

Redwire Co. (NYSE:RDW) rose 6.7% on Friday . The stock traded as high as $18.25 and last traded at $18.19. Approximately 141,255 shares changed hands during trading, a decline of 77% from the average daily volume of 621,207 shares. The stock had previously closed at $17.04.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RDW shares. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Redwire in a report on Monday, September 30th. Roth Mkm boosted their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Redwire in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Stock Performance

The company has a 50 day moving average of $12.35 and a two-hundred day moving average of $8.76. The stock has a market capitalization of $1.20 billion, a PE ratio of -14.95 and a beta of 2.25.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 89,870 shares of Redwire stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the completion of the sale, the insider now directly owns 4,603,427 shares in the company, valued at approximately $78,212,224.73. The trade was a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its position in Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after buying an additional 422,854 shares during the period. Geode Capital Management LLC grew its position in shares of Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after acquiring an additional 30,963 shares during the period. State Street Corp increased its stake in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Redwire in the 3rd quarter worth about $623,000. Finally, Penserra Capital Management LLC boosted its position in Redwire by 16.5% during the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after purchasing an additional 10,558 shares in the last quarter. 8.10% of the stock is 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.