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

Redwire Co. (NYSE:RDW)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $12.31, but opened at $11.58. Redwire shares last traded at $11.39, with a volume of 601,362 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RDW shares. HC Wainwright upped their target price on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald initiated coverage on shares of Redwire in a report on Friday, January 24th. They issued an “overweight” rating and a $28.00 price objective on the stock. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.50 to $27.00 in a report on Monday, January 27th. Finally, Roth Mkm boosted their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $18.04.

Redwire Trading Up 2.3 %

The business’s 50 day simple moving average is $18.84 and its two-hundred day simple moving average is $12.45. The firm has a market capitalization of $838.35 million, a P/E ratio of -10.60 and a beta of 2.23.

Insider Activity at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s 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 transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 684,454 shares of company stock valued at $13,682,993 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Redwire in the fourth quarter worth approximately $33,000. Summit Investment Advisors Inc. boosted its holdings in Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after purchasing an additional 931 shares during the last quarter. Summit Securities Group LLC bought a new stake in Redwire in the 4th quarter worth approximately $63,000. Jones Financial Companies Lllp grew its holdings in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Redwire by 129.1% in the 3rd 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 during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

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.