Redwire (NYSE:RDW) Stock Price Down 7.1% – Time to Sell?

Shares of Redwire Corporation (NYSE:RDW) traded down 7.1% during trading on Tuesday . The company traded as low as $9.37 and last traded at $9.37. 16,795,673 shares were traded during trading, a decline of 49% from the average session volume of 33,127,469 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Redwire in a research report on Tuesday, December 23rd. Canaccord Genuity Group cut their price target on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Cantor Fitzgerald cut their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Finally, Bank of America decreased their price objective on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 19th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75.

Redwire Stock Performance

The stock’s fifty day simple moving average is $9.21 and its two-hundred day simple moving average is $8.88. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -2.96 and a beta of 2.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the completion of the sale, the director owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 38,964,854 shares of company stock valued at $438,633,331 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently bought and sold shares of the stock. AXQ Capital LP raised its stake in shares of Redwire by 26.9% during the fourth quarter. AXQ Capital LP now owns 25,526 shares of the company’s stock valued at $194,000 after purchasing an additional 5,405 shares during the period. Impact Partnership Wealth LLC purchased a new position in shares of Redwire in the fourth quarter valued at $93,000. Seven Grand Managers LLC acquired a new stake in Redwire during the 4th quarter valued at $1,520,000. Geode Capital Management LLC increased its stake in Redwire by 46.9% during the 4th quarter. Geode Capital Management LLC now owns 1,764,643 shares of the company’s stock worth $13,413,000 after buying an additional 563,259 shares during the period. Finally, Penn Capital Management Company LLC acquired a new position in Redwire in the 4th quarter worth $350,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.