Redwire (NYSE:RDW) Trading 5.6% Higher – Time to Buy?

Redwire Co. (NYSE:RDW) traded up 5.6% during mid-day trading on Tuesday . The stock traded as high as $11.57 and last traded at $11.41. 192,514 shares traded hands during trading, a decline of 46% from the average session volume of 353,640 shares. The stock had previously closed at $10.81.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RDW shares. Roth Mkm lifted their price target on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Alliance Global Partners increased their price target on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a report on Monday, September 30th. Finally, B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and upped their target price for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.55.

Redwire Stock Performance

The company’s 50 day moving average price is $7.76 and its 200-day moving average price is $6.66. The company has a market cap of $773.19 million, a PE ratio of -9.43 and a beta of 1.93.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of RDW. SG Americas Securities LLC purchased a new position in Redwire during the 1st quarter valued at about $59,000. Vontobel Holding Ltd. purchased a new position in Redwire during the third quarter worth about $74,000. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire in the 2nd quarter valued at about $74,000. AQR Capital Management LLC purchased a new position in shares of Redwire in the second quarter valued at about $89,000. Finally, MetLife Investment Management LLC raised its stake in Redwire by 129.1% in the third 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.

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.