Redwire (NYSE:RDW) Stock Price Expected to Rise, HC Wainwright Analyst Says

Redwire (NYSE:RDW) had its price objective upped by analysts at HC Wainwright from $18.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 16.01% from the stock’s previous close.

Other analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Redwire in a research note on Monday, September 30th. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and boosted their target price for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Finally, Roth Mkm raised their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Redwire Price Performance

Shares of NYSE:RDW opened at $22.41 on Wednesday. Redwire has a 1 year low of $2.76 and a 1 year high of $22.50. The company has a market cap of $1.49 billion, a P/E ratio of -18.52 and a beta of 2.17. The stock’s fifty day moving average price is $13.86 and its 200-day moving average price is $9.47.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $18.02, for a total transaction of $1,802,000.00. Following the sale, the insider now owns 4,322,853 shares in the company, valued at approximately $77,897,811.06. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 267,656 shares of company stock worth $4,721,852. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently modified their holdings of RDW. Barclays PLC boosted its stake in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares during the period. Geode Capital Management LLC increased its stake in Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after acquiring an additional 30,963 shares during the last quarter. State Street Corp raised its holdings in Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Redwire in the third quarter valued at $623,000. Finally, Penserra Capital Management LLC lifted its stake in Redwire by 16.5% in the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after purchasing an additional 10,558 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.