Redwire (NYSE:RDW) Stock Price Up 1.6% – Here’s Why

Redwire Corporation (NYSE:RDW) shares shot up 1.6% on Friday . The company traded as high as $8.50 and last traded at $8.0150. 16,531,538 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 31,861,793 shares. The stock had previously closed at $7.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RDW shares. Bank of America dropped their target price on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 19th. 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 report on Wednesday, November 12th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Finally, Roth Mkm reissued a “buy” rating and issued a $20.00 price target on shares of Redwire in a research note on Wednesday, January 28th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.75.

Redwire Stock Up 1.6%

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 business has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $8.74. The company has a market cap of $1.32 billion, a PE ratio of -2.53 and a beta of 2.45.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total value of $133,021,738.33. Following the transaction, the director directly owned 61,541,253 shares in the company, valued at $646,798,569.03. The trade was a 17.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 40,400,346 shares of company stock worth $453,127,301 over the last quarter. 2.60% of the stock is owned by insiders.

Institutional Trading of Redwire

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in 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 last quarter. Goldman Sachs Group Inc. raised its position in Redwire by 352.8% in the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after purchasing an additional 276,814 shares during the period. Strs Ohio acquired a new position in shares of Redwire in the 1st quarter valued at $69,000. KLP Kapitalforvaltning AS grew its holdings in shares of Redwire by 149.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,700 shares of the company’s stock worth $207,000 after purchasing an additional 7,600 shares during the period. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Redwire during the 2nd quarter worth about $562,000. Hedge funds and other institutional investors 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.