Redwire (NYSE:RDW) Shares Up 2.3% – Here’s What Happened

Redwire Corporation (NYSE:RDW) was up 2.3% on Thursday . The stock traded as high as $8.63 and last traded at $8.5970. Approximately 12,298,472 shares changed 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 Ratings Changes

RDW has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Cantor Fitzgerald decreased their price objective on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Roth Mkm reiterated a “buy” rating and issued a $20.00 price target on shares of Redwire in a report on Wednesday, January 28th. KeyCorp initiated coverage on Redwire in a report on Thursday, December 18th. They set a “sector weight” rating for the company. Finally, Bank of America reduced their target price on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 19th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.75.

Redwire Price Performance

The firm has a market capitalization of $1.42 billion, a P/E ratio of -2.71 and a beta of 2.45. The stock’s fifty day simple moving average is $9.48 and its 200 day simple moving average is $8.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the completion of the sale, the director owned 61,541,253 shares of the company’s stock, valued at $646,798,569.03. This represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 40,400,346 shares of company stock worth $453,127,301. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the business. AE Industrial Partners LP increased its position in Redwire by 139.3% during the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after buying an additional 49,765,262 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Redwire in the 3rd quarter worth approximately $20,372,000. Hood River Capital Management LLC acquired a new stake in Redwire in the 2nd quarter worth approximately $36,206,000. Cooper Creek Partners Management LLC purchased a new stake in Redwire during the 2nd quarter worth approximately $32,652,000. Finally, State Street Corp increased its stake in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after purchasing an additional 1,786,038 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.