Redwire Corporation (NYSE:RDW) Sees Significant Growth in Short Interest

Redwire Corporation (NYSE:RDW) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 25,584,469 shares, an increase of 23.1% from the January 15th total of 20,778,648 shares. Approximately 15.9% of the company’s stock are sold short. Based on an average trading volume of 46,387,689 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 46,387,689 shares, the days-to-cover ratio is currently 0.6 days. Approximately 15.9% of the company’s stock are sold short.

Redwire Trading Up 1.6%

Redwire stock opened at $8.02 on Tuesday. The firm has a market cap of $1.32 billion, a PE ratio of -2.53 and a beta of 2.44. Redwire has a 12 month low of $4.87 and a 12 month high of $26.27. The stock’s 50 day simple moving average is $9.45 and its two-hundred day simple moving average is $8.65. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

Several research analysts have recently issued reports on RDW shares. Bank of America reduced their price objective on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, November 19th. Zacks Research lowered shares of Redwire from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. Canaccord Genuity Group decreased their price objective on shares of Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Redwire in a report on Tuesday, December 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.75.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 49,985 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $10.01, for a total transaction of $500,349.85. Following the transaction, the director owned 45,094,000 shares in the company, valued at $451,390,940. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 40,400,346 shares of company stock worth $453,127,301 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDW. AE Industrial Partners LP raised its position in shares of Redwire by 139.3% in the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after acquiring an additional 49,765,262 shares during the period. Voya Investment Management LLC purchased a new position in shares of Redwire in the 3rd quarter valued at about $20,372,000. Hood River Capital Management LLC purchased a new position in shares of Redwire in the 2nd quarter valued at about $36,206,000. Cooper Creek Partners Management LLC acquired a new position in Redwire in the 2nd quarter worth about $32,652,000. Finally, State Street Corp boosted its position in Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.