Redwire (NYSE:RDW) Stock Price Down 6% – What’s Next?

Redwire Co. (NYSE:RDW)’s share price fell 6% during trading on Tuesday . The company traded as low as $12.93 and last traded at $13.10. 673,704 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 1,172,552 shares. The stock had previously closed at $13.94.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RDW. Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Redwire in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Redwire presently has an average rating of “Moderate Buy” and an average target price of $10.13.

Redwire Price Performance

The business’s fifty day simple moving average is $13.65 and its 200 day simple moving average is $9.33. The firm has a market capitalization of $969.16 million, a price-to-earnings ratio of -12.04 and a beta of 2.17.

Insider Activity

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $16.99, for a total value of $1,526,891.30. Following the transaction, the insider now directly owns 4,603,427 shares in the company, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 267,656 shares of company stock worth $4,721,852 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Arkadios Wealth Advisors acquired a new position in shares of Redwire during the fourth quarter valued at about $165,000. Brookstone Capital Management acquired a new position in Redwire during the 4th quarter valued at about $329,000. Geode Capital Management LLC increased its holdings in Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after purchasing an additional 30,963 shares in the last quarter. Barclays PLC raised its stake in shares of Redwire by 55.8% in 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 last quarter. Finally, State Street Corp lifted its holdings 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 purchasing an additional 35,519 shares in the last quarter. 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.