Redwire (NYSE:RDW) Shares Up 7% – Should You Buy?

Shares of Redwire Co. (NYSE:RDW) shot up 7% during trading on Thursday . The stock traded as high as $13.45 and last traded at $13.34. 66,006 shares were traded during mid-day trading, a decline of 83% from the average session volume of 395,284 shares. The stock had previously closed at $12.47.

Analyst Upgrades and Downgrades

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

Redwire Trading Up 1.2 %

The stock has a 50-day moving average price of $10.54 and a 200 day moving average price of $7.93. The stock has a market capitalization of $839.75 million, a price-to-earnings ratio of -10.43 and a beta of 2.25.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire in the second quarter valued at about $74,000. Vontobel Holding Ltd. acquired a new stake in Redwire in the 3rd quarter worth about $74,000. AQR Capital Management LLC purchased a new stake in Redwire during the 2nd quarter worth approximately $89,000. MetLife Investment Management LLC raised its holdings in shares of Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after acquiring an additional 7,921 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after acquiring an additional 2,296 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.