B. Riley Upgrades Redwire (NYSE:RDW) to Buy

Redwire (NYSE:RDW) was upgraded by investment analysts at B. Riley from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $27.00 price objective on the stock, up from their previous price objective of $9.50. B. Riley’s price objective indicates a potential upside of 27.45% from the company’s previous close.

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

Redwire Price Performance

RDW stock opened at $21.18 on Monday. The company has a market capitalization of $1.41 billion, a PE ratio of -17.51 and a beta of 2.17. Redwire has a 12 month low of $2.76 and a 12 month high of $23.35. The firm’s 50-day moving average is $14.78 and its 200 day moving average is $9.89.

Insider Activity at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 417,656 shares of company stock valued at $7,663,352 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RDW. Barclays PLC boosted its holdings in 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 last quarter. Geode Capital Management LLC boosted its stake in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after buying an additional 30,963 shares during the last quarter. State Street Corp grew its holdings in Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after acquiring an additional 35,519 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Redwire during the third quarter valued at approximately $623,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Redwire by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after purchasing an additional 10,558 shares during the period. Hedge funds and other 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.