Redwire (NYSE:RDW) Trading 1.6% Higher – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s stock price shot up 1.6% on Monday . The company traded as high as $8.15 and last traded at $8.1150. 10,246,643 shares traded hands during trading, a decline of 65% from the average session volume of 29,191,781 shares. The stock had previously closed at $7.99.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RDW. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Canaccord Genuity Group dropped their price target on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Bank of America cut their price target on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, November 19th. iA Financial set a $9.00 price objective on Redwire in a research note on Thursday, November 6th. Finally, Truist Financial set a $13.00 target price on Redwire in a research note on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.75.

Redwire Trading Up 1.6%

The firm has a 50-day moving average of $9.54 and a 200 day moving average of $8.47. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -2.56 and a beta of 2.44.

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 shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 40,400,346 shares of company stock worth $453,127,301 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

Several institutional investors have recently modified their holdings of the company. AE Industrial Partners LP grew its stake in shares of Redwire by 139.3% in the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after purchasing an additional 49,765,262 shares during the last quarter. Register Financial Advisors LLC boosted its holdings in Redwire by 46.8% during the third quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock worth $2,948,000 after buying an additional 104,597 shares in the last quarter. Andar Capital Management HK Ltd boosted its holdings in Redwire by 76.5% during the third quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock worth $2,697,000 after buying an additional 130,000 shares in the last quarter. Voya Investment Management LLC acquired a new position in Redwire in the third quarter worth approximately $20,372,000. Finally, Geode Capital Management LLC increased its holdings in shares of Redwire by 77.1% in the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock valued at $15,248,000 after buying an additional 407,131 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.