Redwire (NYSE:RDW) Sees Unusually-High Trading Volume – Here’s What Happened

Redwire Corporation (NYSE:RDW) shares saw an uptick in trading volume on Monday . 6,300,333 shares were traded during mid-day trading, an increase of 40% from the previous session’s volume of 4,499,362 shares.The stock last traded at $8.6050 and had previously closed at $8.00.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of Redwire in a report on Tuesday. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Cantor Fitzgerald reduced their price objective 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. Roth Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Redwire in a research report on Thursday, November 6th. Finally, KeyCorp assumed coverage on Redwire in a report on Thursday, December 18th. They set a “sector weight” rating on the stock. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Redwire Stock Performance

The stock has a market capitalization of $1.30 billion, a P/E ratio of -2.49 and a beta of 2.48. 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 has a 50-day moving average price of $6.76 and a two-hundred day moving average price of $10.50.

Insider Buying and Selling at Redwire

In other Redwire news, CEO Peter Anthony Cannito, Jr. purchased 32,155 shares of the business’s 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 of the company’s stock, valued at approximately $3,270,980.88. This represents a 6.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aaron Michael Futch acquired 18,410 shares of Redwire stock in a transaction dated Friday, November 14th. The shares were bought at an average cost of $5.45 per share, with a total value of $100,334.50. Following the transaction, the executive vice president owned 88,704 shares in the company, valued at approximately $483,436.80. This trade represents a 26.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 56,065 shares of company stock valued at $330,047. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. AE Industrial Partners LP grew its holdings in shares of Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after buying an additional 6,101,959 shares during the last quarter. Vanguard Group Inc. lifted its position in Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares in the last quarter. Voya Investment Management LLC acquired a new position in Redwire during the 3rd quarter valued at about $20,372,000. Hood River Capital Management LLC bought a new stake in Redwire during the 2nd quarter worth approximately $36,206,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in shares of Redwire in the second quarter worth approximately $32,652,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

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.