Redwire (NYSE:RDW) Stock Price Down 15.2% – What’s Next?

Shares of Redwire Co. (NYSE:RDW) were down 15.2% on Friday . The company traded as low as $7.25 and last traded at $7.40. Approximately 1,731,502 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 2,089,874 shares. The stock had previously closed at $8.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RDW. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th. 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. B. Riley cut their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.71.

Redwire Stock Performance

The firm has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $13.11. The firm has a market cap of $567.93 million, a price-to-earnings ratio of -6.21 and a beta of 2.51.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $19.61, for a total value of $2,941,500.00. Following the transaction, the insider now owns 4,157,489 shares of the company’s stock, valued at approximately $81,528,359.29. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 516,798 shares of company stock valued at $10,763,141 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

Several hedge funds have recently added to or reduced their stakes in RDW. Vanguard Group Inc. grew its holdings in Redwire by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock valued at $21,573,000 after buying an additional 101,620 shares in the last quarter. Barclays PLC boosted its position in shares of Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock valued at $20,713,000 after acquiring an additional 77,228 shares during the period. Geode Capital Management LLC grew its stake in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after acquiring an additional 30,963 shares in the last quarter. Federated Hermes Inc. increased its position in Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after acquiring an additional 310,769 shares during the period. Finally, State Street Corp raised its stake in 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 purchasing an additional 35,519 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.