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

Redwire Co. (NYSE:RDW) shares gapped down prior to trading on Thursday . The stock had previously closed at $11.05, but opened at $10.69. Redwire shares last traded at $10.57, with a volume of 166,273 shares traded.

Analyst Upgrades and Downgrades

RDW has been the subject of several research analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. B. Riley reduced their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of Redwire in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Redwire currently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Stock Performance

The stock has a market cap of $778.02 million, a price-to-earnings ratio of -8.51 and a beta of 2.33. The business has a 50-day simple moving average of $17.22 and a two-hundred day simple moving average of $12.99.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 89,870 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the transaction, the insider now owns 4,603,427 shares of the company’s stock, valued at $78,212,224.73. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 684,454 shares of company stock worth $13,682,993. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Redwire

Large investors have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its position in Redwire by 16.5% during the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after acquiring an additional 10,558 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Redwire in the 3rd quarter valued at about $139,000. State Street Corp lifted its stake in 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 last quarter. Finally, Barclays PLC grew 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 purchasing an additional 422,854 shares during the period. Institutional investors and hedge funds 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.