Redwire (NYSE:RDW) Sees Strong Trading Volume – Time to Buy?

Redwire Corporation (NYSE:RDW) shares saw strong trading volume on Tuesday . 4,732,929 shares were traded during trading, an increase of 1% from the previous session’s volume of 4,694,652 shares.The stock last traded at $7.35 and had previously closed at $7.00.

Analyst Ratings Changes

A number of analysts recently weighed in on RDW shares. Truist Financial lowered their price target on shares of Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a report on Friday, November 7th. KeyCorp started coverage on Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Cantor Fitzgerald dropped their target price on Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Industrial Alliance Securities set a $9.00 price target on Redwire in a research note on Thursday, November 6th. Finally, Canaccord Genuity Group lowered their price objective on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

Redwire Stock Up 14.1%

The firm’s 50-day simple moving average is $6.69 and its 200 day simple moving average is $10.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. The company has a market cap of $1.32 billion, a P/E ratio of -2.53 and a beta of 2.48.

Insider Activity at Redwire

In related news, CEO Peter Anthony Cannito, Jr. bought 32,155 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $6.21 per share, with a total value of $199,682.55. Following the completion of the purchase, the chief executive officer owned 526,728 shares of the company’s stock, valued at $3,270,980.88. This represents a 6.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Chris Edmunds bought 5,500 shares of Redwire stock in a transaction on Friday, November 14th. The shares were bought at an average price of $5.46 per share, for a total transaction of $30,030.00. Following the acquisition, the chief accounting officer owned 107,441 shares of the company’s stock, valued at approximately $586,627.86. The trade was a 5.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 56,065 shares of company stock worth $330,047. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in RDW. Abich Financial Wealth Management LLC acquired a new stake in Redwire during the 3rd quarter worth $41,000. Russell Investments Group Ltd. increased its holdings in shares of Redwire by 308.6% in the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after acquiring an additional 3,672 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Redwire during the second quarter worth about $54,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Redwire by 440.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after purchasing an additional 5,395 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Redwire during the 1st quarter valued at about $69,000. 8.10% of the stock is owned by institutional investors.

About Redwire

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.