Redwire (NYSE:RDW) Shares Gap Up – Should You Buy?

Redwire Co. (NYSE:RDW) gapped up before the market opened on Monday . The stock had previously closed at $12.03, but opened at $12.41. Redwire shares last traded at $12.67, with a volume of 123,605 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Redwire in a report on Wednesday, December 11th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. Roth Mkm lifted their price objective on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, B. Riley cut shares of 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.13.

Redwire Trading Up 0.4 %

The firm has a market cap of $910.28 million, a price-to-earnings ratio of -11.31 and a beta of 2.25. The stock has a 50-day moving average of $10.32 and a 200-day moving average of $7.83.

Hedge Funds Weigh In On Redwire

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Redwire by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after purchasing an additional 30,963 shares during the last quarter. Barclays PLC increased its stake in shares of Redwire by 55.8% in the third 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 period. State Street Corp raised its holdings in shares of Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Redwire during the third quarter worth approximately $139,000. Finally, MetLife Investment Management LLC grew its holdings in Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after buying an additional 7,921 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

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.