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

Redwire Co. (NYSE:RDW)’s stock price 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 changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RDW. Roth Mkm lifted their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. Finally, HC Wainwright increased their price target on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Redwire has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Redwire Price Performance

The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -17.34 and a beta of 2.17. The stock’s 50 day simple moving average is $13.86 and its two-hundred day simple moving average is $9.47.

Insider Activity at Redwire

In other news, major shareholder Park Lp Genesis II sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.02, for a total value of $1,802,000.00. Following the sale, the insider now owns 4,322,853 shares in the company, valued at approximately $77,897,811.06. The trade was a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 267,656 shares of company stock valued at $4,721,852 over the last quarter. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Redwire by 39.6% in the third quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock valued at $150,000 after acquiring an additional 6,200 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Redwire by 129.1% during the third 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. Arkadios Wealth Advisors acquired a new stake in shares of Redwire in the fourth quarter valued at $165,000. The Manufacturers Life Insurance Company bought a new position in shares of Redwire in the second quarter valued at about $74,000. Finally, Penserra Capital Management LLC grew its holdings in Redwire by 16.5% during the 3rd 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 during the last quarter. 8.10% of the stock is currently 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.