Redwire (NYSE:RDW) Shares Down 7.7% – What’s Next?

Redwire Co. (NYSE:RDW)’s stock price was down 7.7% during trading on Monday . The stock traded as low as $21.71 and last traded at $22.09. Approximately 766,832 shares were traded during trading, a decline of 63% from the average daily volume of 2,065,662 shares. The stock had previously closed at $23.92.

Analyst Ratings Changes

A number of research firms have commented on RDW. Roth Mkm upped their price target on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.50 to $27.00 in a report on Monday, January 27th. Cantor Fitzgerald started coverage on Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, HC Wainwright boosted their target price on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $18.04.

Redwire Price Performance

The stock has a market capitalization of $1.49 billion, a P/E ratio of -18.56 and a beta of 2.23. The firm’s 50 day moving average price is $15.86 and its 200 day moving average price is $10.41.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 100,000 shares of Redwire stock in a transaction on Monday, January 27th. The shares were sold at an average price of $22.73, for a total transaction of $2,273,000.00. Following the transaction, the insider now owns 3,854,041 shares in the company, valued at $87,602,351.93. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 617,656 shares of company stock worth $12,128,352. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several large investors have recently made changes to their positions in RDW. Barclays PLC grew its holdings in shares of 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 in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Redwire during the 3rd quarter worth $623,000. Van ECK Associates Corp purchased a new position in Redwire during the fourth quarter valued at approximately $1,151,000. State Street Corp raised its position in shares of Redwire by 8.1% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after buying an additional 30,963 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.