Redwire (NYSE:RDW) Shares Gap Down – What’s Next?

Redwire Co. (NYSE:RDW) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.05, but opened at $10.69. Redwire shares last traded at $10.57, with a volume of 166,273 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RDW shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. B. Riley decreased their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a report on Tuesday, March 11th. Finally, HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Redwire currently has an average rating of “Moderate Buy” and an average price target of $17.71.

Redwire Stock Down 10.7 %

The stock has a market cap of $665.42 million, a PE ratio of -7.28 and a beta of 2.33. The company’s fifty day moving average is $17.01 and its 200 day moving average is $12.98.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the transaction, the insider now directly owns 3,644,566 shares of the company’s stock, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 594,584 shares of company stock worth $12,156,101. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Redwire during the fourth quarter valued at approximately $33,000. Summit Investment Advisors Inc. grew its stake in Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after purchasing an additional 931 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Redwire during the 4th quarter worth approximately $63,000. Jones Financial Companies Lllp boosted its stake in shares of Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position 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 buying an additional 7,921 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.