Redwire (NYSE:RDW) Shares Gap Up – What’s Next?

Redwire Co. (NYSE:RDW) gapped up prior to trading on Friday . The stock had previously closed at $11.68, but opened at $12.33. Redwire shares last traded at $12.27, with a volume of 289,949 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RDW shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a report on Monday, September 30th. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Roth Mkm lifted their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Alliance Global Partners lifted their price objective on shares of Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.55.

Redwire Price Performance

The firm’s 50 day moving average is $8.31 and its two-hundred day moving average is $6.88. The firm has a market capitalization of $876.33 million, a P/E ratio of -10.88 and a beta of 1.93.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after buying an additional 30,963 shares in the last quarter. Barclays PLC boosted its position in Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after purchasing an additional 422,854 shares during the period. State Street Corp boosted its position in Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after purchasing an additional 35,519 shares during the period. Stifel Financial Corp bought a new position in Redwire during the third quarter worth $139,000. Finally, MetLife Investment Management LLC boosted its position in Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the period. 8.10% of the stock is owned by institutional investors.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.