Redwire Co. (NYSE:RDW) Short Interest Update

Redwire Co. (NYSE:RDW) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,640,000 shares, a drop of 18.2% from the February 13th total of 4,450,000 shares. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 16.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $16.99, for a total value of $1,526,891.30. Following the transaction, the insider now owns 4,603,427 shares in the company, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 684,454 shares of company stock worth $13,682,993 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RDW. Barclays PLC lifted its stake in shares of Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares during the last quarter. Federated Hermes Inc. raised its holdings in Redwire by 165.7% in the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock valued at $8,202,000 after buying an additional 310,769 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Redwire in the fourth quarter valued at about $4,830,000. EAM Global Investors LLC acquired a new position in Redwire in the fourth quarter valued at about $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new stake in shares of Redwire during the fourth quarter valued at about $3,621,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Stock Up 0.5 %

NYSE:RDW traded up $0.06 on Tuesday, hitting $11.04. The stock had a trading volume of 1,795,910 shares, compared to its average volume of 828,125. The company has a fifty day moving average price of $17.77 and a two-hundred day moving average price of $12.78. The stock has a market cap of $734.61 million, a price-to-earnings ratio of -9.12 and a beta of 2.33. Redwire has a 1-year low of $3.39 and a 1-year high of $26.66.

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.