Redwire (NYSE:RDW) Upgraded at B. Riley

Redwire (NYSE:RDW) was upgraded by research analysts at B. Riley from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat reports. The brokerage currently has a $27.00 price target on the stock, up from their previous price target of $9.50. B. Riley’s target price would indicate a potential upside of 27.45% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald began coverage on shares of Redwire in a report on Friday. They issued an “overweight” rating and a $28.00 target price for the company. HC Wainwright increased their price objective on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Roth Mkm upped their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.04.

Redwire Trading Down 3.9 %

Redwire stock opened at $21.18 on Monday. Redwire has a 12 month low of $2.76 and a 12 month high of $23.35. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -17.51 and a beta of 2.17. The stock has a fifty day simple moving average of $14.78 and a two-hundred day simple moving average of $9.89.

Insider Activity

In other 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 417,656 shares of company stock worth $7,663,352 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in Redwire during the 3rd quarter valued at $623,000. State Street Corp raised its stake in shares of Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after acquiring an additional 35,519 shares during the period. Brookstone Capital Management bought a new stake in shares of Redwire in the 4th quarter worth about $329,000. Stifel Financial Corp purchased a new position in shares of Redwire during the 3rd quarter worth about $139,000. Finally, Barclays PLC grew its holdings in Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.