Redwire (NYSE:RDW) Shares Gap Up – Here’s What Happened

Shares of Redwire Co. (NYSE:RDW) gapped up prior to trading on Monday . The stock had previously closed at $10.60, but opened at $11.16. Redwire shares last traded at $11.09, with a volume of 341,149 shares traded.

Wall Street Analysts Forecast Growth

RDW has been the topic of several recent research reports. B. Riley reduced their price objective on Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of Redwire in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Stock Up 5.3 %

The stock has a market cap of $742.93 million, a P/E ratio of -9.28 and a beta of 2.33. The firm has a 50 day moving average price of $17.90 and a 200 day moving average price of $12.75.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were 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 $82,810,988.56. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 684,454 shares of company stock valued at $13,682,993 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares in the last quarter. Federated Hermes Inc. grew its stake in Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock valued at $8,202,000 after purchasing an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Redwire during the fourth quarter valued at about $4,830,000. EAM Global Investors LLC bought a new position in shares of Redwire during the 4th quarter worth approximately $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new stake in Redwire in the fourth quarter valued at approximately $3,621,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.