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

Redwire Co. (NYSE:RDW) fell 4.5% on Wednesday . The company traded as low as $10.87 and last traded at $11.12. 386,746 shares traded hands during mid-day 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

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

Redwire Trading Down 5.8 %

The firm’s 50-day moving average is $7.98 and its two-hundred day moving average is $6.76. The stock has a market cap of $729.29 million, a price-to-earnings ratio of -9.34 and a beta of 1.93.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of RDW. Barclays PLC lifted its position in Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after buying an additional 422,854 shares in the last quarter. Vanguard Group Inc. boosted its position in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after buying an additional 3,681 shares during the period. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 30,963 shares in the last quarter. State Street Corp boosted 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 during the period. Finally, Harbor Capital Advisors Inc. bought a new position in Redwire in the 3rd quarter worth about $623,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.