Redwire (NYSE:RDW) Rating Increased to Buy at B. Riley

B. Riley upgraded shares of Redwire (NYSE:RDW) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat Ratings reports. The firm currently has $27.00 price target on the stock, up from their previous price target of $9.50.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald started coverage on shares of Redwire in a research note on Friday. They issued an “overweight” rating and a $28.00 target price on the stock. HC Wainwright raised their target price on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Roth Mkm raised their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $18.04.

Redwire Stock Up 2.0 %

Shares of RDW opened at $21.68 on Monday. Redwire has a 12 month low of $2.76 and a 12 month high of $24.52. The company’s fifty day moving average is $14.78 and its 200-day moving average is $9.89. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -17.91 and a beta of 2.17.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the sale, the insider now directly owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 517,656 shares of company stock valued at $9,855,352 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arkadios Wealth Advisors bought a new position in shares of Redwire during the 4th quarter worth about $165,000. The Manufacturers Life Insurance Company bought a new position in shares of Redwire during the 2nd quarter worth about $74,000. Vontobel Holding Ltd. bought a new position in shares of Redwire during the 3rd quarter worth about $74,000. AQR Capital Management LLC bought a new position in shares of Redwire during the 2nd quarter worth about $89,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after acquiring an additional 7,921 shares during the period. 8.10% of the stock is owned by institutional investors.

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.