Redwire (NYSE:RDW) Sees Large Volume Increase – What’s Next?

Redwire Co. (NYSE:RDW) shares saw unusually-strong trading volume on Tuesday . Approximately 385,611 shares were traded during trading, an increase of 6% from the previous session’s volume of 364,774 shares.The stock last traded at $14.30 and had previously closed at $13.77.

Analysts Set New Price Targets

Several brokerages have weighed in on RDW. HC Wainwright began coverage on Redwire in a research report on Tuesday. They issued a “buy” rating and a $18.00 target price on the stock. Alliance Global Partners increased their target price on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Roth Mkm increased their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. Finally, B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and increased their target price for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Redwire has a consensus rating of “Moderate Buy” and an average target price of $10.13.

Redwire Stock Down 1.7 %

The company has a 50 day moving average of $8.46 and a two-hundred day moving average of $6.99. The firm has a market cap of $900.95 million, a P/E ratio of -11.37 and a beta of 1.93.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Redwire by 17.2% during the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after buying an additional 2,296 shares in the last quarter. Vanguard Group Inc. boosted its stake in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after buying an additional 3,681 shares in the last quarter. DNB Asset Management AS boosted its stake in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after buying an additional 7,538 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Redwire by 129.1% in the 3rd 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 during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Redwire in the 2nd quarter valued at $74,000. Institutional investors 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.