Redwire (NYSE:RDW) Stock Price Up 12.7% – Here’s Why

Redwire Corporation (NYSE:RDW) shares shot up 12.7% during trading on Friday . The stock traded as high as $7.72 and last traded at $7.91. 3,338,806 shares traded hands during trading, a decline of 23% from the average session volume of 4,352,440 shares. The stock had previously closed at $7.02.

Wall Street Analysts Forecast Growth

RDW has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Wednesday, October 8th. Roth Capital restated a “buy” rating and set a $15.00 target price on shares of Redwire in a research note on Thursday, November 6th. Canaccord Genuity Group reduced their price target 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. Industrial Alliance Securities set a $9.00 price objective on shares of Redwire in a report on Thursday, November 6th. Finally, Truist Financial dropped their target price on shares of Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Redwire has a consensus rating of “Hold” and a consensus target price of $12.50.

Redwire Trading Up 11.0%

The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.29 billion, a PE ratio of -2.47 and a beta of 2.48. The stock’s fifty day simple moving average is $6.82 and its 200 day simple moving average is $10.76.

Insider Transactions at Redwire

In related news, EVP Aaron Michael Futch acquired 18,410 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of $5.45 per share, with a total value of $100,334.50. Following the completion of the purchase, the executive vice president directly owned 88,704 shares of the company’s stock, valued at $483,436.80. This represents a 26.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Chris Edmunds acquired 5,500 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $5.46 per share, with a total value of $30,030.00. Following the completion of the purchase, the chief accounting officer owned 107,441 shares in the company, valued at $586,627.86. This trade represents a 5.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 56,065 shares of company stock worth $330,047 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Abich Financial Wealth Management LLC purchased a new stake in Redwire during the 3rd quarter valued at approximately $41,000. Russell Investments Group Ltd. boosted its position in shares of 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 acquiring an additional 3,672 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Redwire during the second quarter valued at $54,000. Caitong International Asset Management Co. Ltd increased its holdings in Redwire by 440.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after acquiring an additional 5,395 shares during the last quarter. Finally, Strs Ohio bought a new stake in Redwire in the 1st quarter valued at $69,000. 8.10% of the stock is 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.