Brokerages Set Redwire Co. (NYSE:RDW) PT at $18.04

Shares of Redwire Co. (NYSE:RDW) have earned an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $18.04.

Several brokerages recently issued reports on RDW. HC Wainwright increased their price target on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Finally, Cantor Fitzgerald initiated coverage on shares of Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 price target on the stock.

Redwire Trading Down 2.1 %

NYSE:RDW opened at $12.10 on Thursday. The company has a 50-day moving average price of $18.58 and a 200-day moving average price of $12.59. Redwire has a 12 month low of $3.00 and a 12 month high of $26.66. The stock has a market cap of $805.28 million, a price-to-earnings ratio of -10.00 and a beta of 2.33.

Insider Buying and Selling at Redwire

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 684,454 shares of company stock worth $13,682,993 over the last quarter. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Redwire in the 4th quarter valued at approximately $33,000. Summit Investment Advisors Inc. raised its position in Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after buying an additional 931 shares during the last quarter. Summit Securities Group LLC purchased a new position in Redwire during the 4th quarter worth approximately $63,000. Jones Financial Companies Lllp grew its stake in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after purchasing an additional 1,372 shares during the period. Finally, US Bancorp DE acquired a new stake in shares of Redwire during the 4th quarter worth approximately $119,000. 8.10% of the stock is currently 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.