Redwire (NYSE:RDW) Shares Gap Down – Should You Sell?

Shares of Redwire Co. (NYSE:RDW) gapped down prior to trading on Monday . The stock had previously closed at $15.51, but opened at $14.58. Redwire shares last traded at $14.50, with a volume of 220,840 shares trading hands.

Wall Street Analysts Forecast Growth

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

Redwire Stock Performance

The firm has a market cap of $916.93 million, a P/E ratio of -11.39 and a beta of 2.17. The firm’s fifty day moving average is $13.42 and its 200 day moving average is $9.25.

Insider Transactions at Redwire

In other 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 sale, the insider now owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 267,656 shares of company stock worth $4,721,852 over the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock valued at $150,000 after purchasing an additional 6,200 shares during the period. MetLife Investment Management LLC raised its position 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 valued at $97,000 after buying an additional 7,921 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire in the second quarter valued at approximately $74,000. Penserra Capital Management LLC boosted its stake 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 valued at $512,000 after buying an additional 10,558 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in Redwire during the third quarter worth approximately $74,000. 8.10% of the stock is owned by 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.