Redwire (NYSE:RDW) Shares Down 4.5% – Time to Sell?

Redwire Co. (NYSE:RDW)’s share price traded down 4.5% on Wednesday . The stock traded as low as $10.87 and last traded at $11.12. 386,746 shares were traded during trading, an increase of 8% from the average session volume of 356,590 shares. The stock had previously closed at $11.64.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Roth Mkm lifted their price target on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Alliance Global Partners raised their price objective on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. Finally, B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.55.

Redwire Stock Performance

The stock’s fifty day simple moving average is $7.98 and its two-hundred day simple moving average is $6.76. The stock has a market capitalization of $729.29 million, a P/E ratio of -9.34 and a beta of 1.93.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in Redwire by 55.8% in the 3rd 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Redwire by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after purchasing an additional 3,681 shares during the period. Geode Capital Management LLC grew its holdings in shares of Redwire by 6.3% during the 3rd 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. State Street Corp lifted its stake in shares of Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Redwire in the third quarter valued at about $623,000. Hedge funds and other institutional investors 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.