Redwire Co. (NYSE:RDW) Short Interest Down 20.3% in February

Redwire Co. (NYSE:RDW) was the recipient of a large decline in short interest in February. As of February 15th, there was short interest totalling 4,450,000 shares, a decline of 20.3% from the January 31st total of 5,580,000 shares. Based on an average daily trading volume, of 1,630,000 shares, the short-interest ratio is currently 2.7 days. Approximately 17.8% of the shares of the company are sold short.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of Redwire stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 684,454 shares of company stock valued at $13,682,993 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after acquiring an additional 532 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Redwire by 7.8% during the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock valued at $179,000 after purchasing an additional 782 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after purchasing an additional 931 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Redwire during the 4th quarter valued at approximately $33,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Stock Performance

Shares of RDW traded up $0.19 during mid-day trading on Tuesday, hitting $12.50. 2,800,132 shares of the stock were exchanged, compared to its average volume of 741,379. The company has a market cap of $831.43 million, a PE ratio of -10.33 and a beta of 2.23. Redwire has a 52-week low of $2.94 and a 52-week high of $26.66. The firm has a 50-day moving average of $18.79 and a two-hundred day moving average of $12.50.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDW. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $9.50 to $27.00 in a report on Monday, January 27th. Cantor Fitzgerald began coverage on Redwire in a report on Friday, January 24th. They issued an “overweight” rating and a $28.00 price target on the stock. Roth Mkm boosted their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, HC Wainwright boosted their price target on Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Six research 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 Company Profile

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.