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

Redwire Co. (NYSE:RDW) gapped down prior to trading on Tuesday . The stock had previously closed at $11.26, but opened at $9.55. Redwire shares last traded at $10.01, with a volume of 564,558 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RDW. B. Riley lowered their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of Redwire in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of Redwire in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and an average target price of $17.71.

Redwire Stock Down 3.2 %

The business’s fifty day moving average is $18.20 and its two-hundred day moving average is $12.67. The firm has a market cap of $663.75 million, a price-to-earnings ratio of -8.24 and a beta of 2.33.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total transaction of $243,872.65. Following the completion of the sale, the insider now owns 3,644,566 shares in the company, valued at $87,870,486.26. The trade was a 0.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 684,454 shares of company stock valued at $13,682,993. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

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