Insider Buying: Redwire Co. (NYSE:RDW) CFO Acquires 2,170 Shares of Stock

Redwire Co. (NYSE:RDW) CFO Jonathan Baliff purchased 2,170 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $11.38 per share, for a total transaction of $24,694.60. Following the acquisition, the chief financial officer now owns 1,028,954 shares of the company’s stock, valued at approximately $11,709,496.52. The trade was a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Redwire Trading Up 1.0 %

RDW stock opened at $11.41 on Friday. The firm has a 50 day moving average of $17.37 and a 200-day moving average of $12.83. Redwire Co. has a 12-month low of $3.39 and a 12-month high of $26.66. The company has a market cap of $758.90 million, a price-to-earnings ratio of -9.43 and a beta of 2.33.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Barclays PLC lifted its position in shares of 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 acquiring an additional 422,854 shares during the period. Federated Hermes Inc. raised its position in shares of Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after purchasing an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Redwire during the 4th quarter worth approximately $4,830,000. EAM Global Investors LLC acquired a new position in shares of Redwire during the 4th quarter worth approximately $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new position in shares of Redwire during the 4th quarter worth approximately $3,621,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. B. Riley lowered their price objective on Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus price target of $17.71.

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.