Redwire Sees Unusually Large Options Volume (NYSE:RDW)

Redwire Co. (NYSE:RDW) was the target of unusually large options trading activity on Monday. Stock investors bought 4,373 call options on the stock. This represents an increase of 70% compared to the average daily volume of 2,572 call options.

Redwire Stock Performance

Shares of NYSE:RDW opened at $20.04 on Tuesday. The firm has a market cap of $1.54 billion, a PE ratio of -16.56 and a beta of 2.53. The firm’s 50 day simple moving average is $11.74 and its 200-day simple moving average is $14.28. Redwire has a one year low of $4.87 and a one year high of $26.66.

Redwire (NYSE:RDW) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). The business had revenue of $61.40 million for the quarter, compared to the consensus estimate of $74.54 million. Equities research analysts predict that Redwire will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Redwire in the fourth quarter valued at $33,000. Summit Investment Advisors Inc. boosted its position in Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after acquiring an additional 931 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Redwire in the 1st quarter valued at about $42,000. FNY Investment Advisers LLC acquired a new position in Redwire in the 1st quarter valued at about $47,000. Finally, GAMMA Investing LLC boosted its holdings in Redwire by 69,077.8% in the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company’s stock valued at $52,000 after purchasing an additional 6,217 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RDW. B. Riley reduced their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Wall Street Zen upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Monday, May 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a research note on Tuesday, March 11th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Redwire has an average rating of “Moderate Buy” and an average target price of $20.05.

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.