Redwire Co. (NYSE:RDW) Sees Large Decrease in Short Interest

Redwire Co. (NYSE:RDW) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,640,000 shares, a decrease of 18.2% from the February 13th total of 4,450,000 shares. Approximately 16.1% of the shares of the stock are short sold. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

A number of research firms have issued reports on RDW. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. B. Riley cut their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Stock Performance

RDW stock traded up $0.49 during mid-day trading on Wednesday, hitting $11.44. 1,692,772 shares of the company were exchanged, compared to its average volume of 832,632. The firm has a market cap of $761.10 million, a P/E ratio of -9.45 and a beta of 2.33. The firm’s 50 day simple moving average is $17.65 and its 200 day simple moving average is $12.81. Redwire has a 1-year low of $3.39 and a 1-year high of $26.66.

Insiders Place Their Bets

In other Redwire 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 transaction of $96,731.71. Following the transaction, the insider now directly owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. This represents a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 684,454 shares of company stock valued at $13,682,993 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

Hedge funds have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. bought a new position in shares of Redwire in the fourth quarter valued at $448,000. State Street Corp lifted 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 purchasing an additional 35,519 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of Redwire during the fourth quarter worth $329,000. Proficio Capital Partners LLC acquired a new stake in shares of Redwire during the fourth quarter worth $278,000. Finally, Stifel Financial Corp acquired a new stake in shares of Redwire during the third quarter worth $139,000. 8.10% of the stock is 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.