Redwire (NYSE:RDW) Trading 2.3% Higher – Here’s What Happened

Redwire Corporation (NYSE:RDW) rose 2.3% on Thursday . The stock traded as high as $8.63 and last traded at $8.5970. Approximately 12,298,472 shares traded hands during trading, a decline of 59% from the average daily volume of 30,238,805 shares. The stock had previously closed at $8.40.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. iA Financial set a $9.00 target price on shares of Redwire in a report on Thursday, November 6th. Cantor Fitzgerald cut their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Bank of America decreased their price objective on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, November 19th. Finally, Truist Financial set a $13.00 price target on Redwire in a report on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Redwire presently has a consensus rating of “Hold” and an average price target of $13.75.

Redwire Stock Performance

The firm has a 50 day moving average of $9.52 and a 200-day moving average of $8.56. The company has a market cap of $1.32 billion, a P/E ratio of -2.52 and a beta of 2.45. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 12,656,683 shares of Redwire stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 40,400,346 shares of company stock worth $453,127,301 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RDW. Sunbelt Securities Inc. lifted its position in shares of Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares during the period. CWM LLC raised its stake in Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Redwire during the third quarter worth $41,000. Russell Investments Group Ltd. lifted its holdings in Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after buying an additional 3,672 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares in the last quarter. 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.