Redwire (NYSE:RDW) Shares Up 7% – Still a Buy?

Redwire Co. (NYSE:RDW) shares traded up 7% on Thursday . The company traded as high as $13.45 and last traded at $13.34. 66,006 shares changed hands 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.

Analysts Set New Price Targets

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

Redwire Stock Performance

The firm’s 50-day simple moving average is $10.77 and its 200 day simple moving average is $8.02. The stock has a market capitalization of $924.25 million, a P/E ratio of -11.48 and a beta of 2.25.

Institutional Investors Weigh In On Redwire

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