Redwire (NYSE:RDW) Shares Gap Up – Should You Buy?

Redwire Corporation (NYSE:RDW)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.01, but opened at $8.30. Redwire shares last traded at $7.7840, with a volume of 3,535,636 shares.

Analysts Set New Price Targets

RDW has been the topic of a number of recent analyst reports. KeyCorp assumed coverage on shares of Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Roth Capital reiterated a “buy” rating and set a $15.00 target price on shares of Redwire in a research note on Thursday, November 6th. Cantor Fitzgerald dropped their target price on Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Finally, Bank of America lowered their price objective on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, November 19th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Redwire currently has an average rating of “Hold” and an average target price of $12.50.

Redwire Price Performance

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 capitalization of $1.29 billion, a PE ratio of -2.47 and a beta of 2.48. The company’s 50-day simple moving average is $6.76 and its 200-day simple moving average is $10.50.

Insider Activity at Redwire

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

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares during the period. AE Industrial Partners LP boosted its holdings in Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after buying an additional 49,765,262 shares in the last quarter. Canal Insurance CO acquired a new position in Redwire during the second quarter worth about $3,260,000. Jump Financial LLC acquired a new position in Redwire during the first quarter worth about $425,000. Finally, Voya Investment Management LLC purchased a new position in Redwire in the third quarter valued at about $20,372,000. 8.10% of the stock is currently owned by hedge funds and other 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.