Redwire (NYSE:RDW) Shares Gap Down – Should You Sell?

Redwire Co. (NYSE:RDW) gapped down prior to trading on Wednesday . The stock had previously closed at $22.33, but opened at $21.20. Redwire shares last traded at $20.07, with a volume of 858,074 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on RDW shares. HC Wainwright raised their price target on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. Roth Mkm lifted 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. Finally, B. Riley cut Redwire from a “buy” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Redwire Trading Down 5.8 %

The business has a 50 day moving average of $13.86 and a 200-day moving average of $9.47. The firm has a market capitalization of $1.40 billion, a P/E ratio of -17.34 and a beta of 2.17.

Insider Buying and Selling

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of Redwire stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the sale, the insider now directly owns 4,598,056 shares in the company, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 267,656 shares of company stock worth $4,721,852 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RDW. Barclays PLC increased its holdings in Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after buying an additional 422,854 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Redwire in the 3rd quarter valued at about $623,000. Bank of New York Mellon Corp increased its stake in shares of Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after purchasing an additional 59,372 shares during the last quarter. State Street Corp raised its holdings in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares during the period. Finally, Geode Capital Management LLC lifted its stake 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. 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.