Redwire (NYSE:RDW) Shares Gap Up – Still a Buy?

Redwire Co. (NYSE:RDW)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $17.09, but opened at $17.44. Redwire shares last traded at $17.14, with a volume of 560,199 shares trading hands.

Wall Street Analyst Weigh In

RDW has been the topic of several research analyst reports. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and increased their price objective for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Redwire in a report on Wednesday, December 11th. Roth Mkm boosted their price objective on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Redwire currently has an average rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Trading Up 0.2 %

The stock’s 50-day simple moving average is $11.52 and its 200-day simple moving average is $8.39. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -14.15 and a beta of 2.25.

Institutional Investors Weigh In On Redwire

A number of large investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. acquired a new position in Redwire in the 3rd quarter valued at $74,000. The Manufacturers Life Insurance Company bought a new position in shares of Redwire in the second quarter worth $74,000. AQR Capital Management LLC acquired a new position in Redwire in the second quarter valued at about $89,000. MetLife Investment Management LLC raised its stake in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in Redwire during the third quarter worth about $139,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

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.