Short Interest in Redwire Co. (NYSE:RDW) Decreases By 18.2%

Redwire Co. (NYSE:RDW) was the target 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. Currently, 16.1% of the shares of the stock are short sold. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is currently 2.0 days.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 of the company’s stock, valued at $82,810,988.56. This represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 684,454 shares of company stock valued at $13,682,993 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Public Employees Retirement System of Ohio purchased a new position in shares of Redwire in the fourth quarter worth about $587,000. Squarepoint Ops LLC purchased a new stake in shares of Redwire in the 4th quarter valued at $489,000. Two Sigma Advisers LP acquired a new stake in shares of Redwire in the fourth quarter worth $339,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Redwire by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after purchasing an additional 532 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Redwire during the fourth quarter valued at $4,830,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Stock Up 0.7 %

Shares of Redwire stock traded up $0.08 during midday trading on Thursday, hitting $11.50. The company had a trading volume of 259,483 shares, compared to its average volume of 2,140,078. The company has a fifty day simple moving average of $17.56 and a 200 day simple moving average of $12.80. The stock has a market cap of $765.22 million, a price-to-earnings ratio of -9.50 and a beta of 2.33. Redwire has a 12-month low of $3.39 and a 12-month high of $26.66.

Analysts Set New Price Targets

Several brokerages have issued reports on RDW. B. Riley dropped their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. Finally, HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of Redwire in a research note on Wednesday, March 12th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $17.71.

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.