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

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.50 to $27.00 in a report on Monday, January 27th. HC Wainwright increased their price objective on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald began coverage on shares of Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $18.04.

Redwire Trading Down 10.1 %

The firm has a fifty day moving average price of $18.58 and a 200 day moving average price of $12.63. The firm has a market capitalization of $721.50 million, a price-to-earnings ratio of -8.99 and a beta of 2.33.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the sale, the insider now directly owns 4,603,427 shares of the company’s stock, valued at $78,212,224.73. This represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 684,454 shares of company stock worth $13,682,993. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock valued at $21,573,000 after purchasing an additional 101,620 shares during the period. Barclays PLC raised its position in shares of Redwire by 6.5% during the 4th quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock valued at $20,713,000 after acquiring an additional 77,228 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Redwire by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after purchasing an additional 30,963 shares during the period. Federated Hermes Inc. boosted its position in shares of Redwire by 165.7% in the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after purchasing an additional 310,769 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after purchasing an additional 35,519 shares during the period. 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.