Redwire (NYSE:RDW) Stock Price Down 10.6% – What’s Next?

Shares of Redwire Co. (NYSE:RDW) were down 10.6% on Monday . The stock traded as low as $10.80 and last traded at $10.79. Approximately 599,157 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 771,883 shares. The stock had previously closed at $12.06.

Analysts Set New Price Targets

Several research analysts have weighed in on RDW shares. HC Wainwright lifted their target price on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.04.

Redwire Price Performance

The stock has a market capitalization of $685.04 million, a PE ratio of -8.51 and a beta of 2.33. The stock has a 50 day moving average of $18.33 and a two-hundred day moving average of $12.69.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of Redwire stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC raised its holdings in shares of Redwire by 16.5% in the third 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. MetLife Investment Management LLC raised its holdings in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after acquiring an additional 7,921 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Redwire in the third quarter worth $139,000. State Street Corp raised 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 worth $3,252,000 after acquiring an additional 35,519 shares during the last quarter. Finally, Barclays PLC raised its holdings 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 acquiring an additional 422,854 shares during the last quarter. 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.