Redwire (NYSE:RDW) Shares Down 5.7% – Should You Sell?

Redwire Co. (NYSE:RDW)’s stock price dropped 5.7% during trading on Wednesday . The stock traded as low as $11.03 and last traded at $11.09. Approximately 310,074 shares were traded during trading, a decline of 63% from the average daily volume of 841,469 shares. The stock had previously closed at $11.76.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RDW shares. B. Riley dropped their price objective on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of Redwire in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and an average price target of $17.71.

Redwire Stock Down 10.7 %

The stock has a market cap of $745.53 million, a PE ratio of -8.15 and a beta of 2.33. The business has a 50 day moving average price of $17.12 and a 200 day moving average price of $12.96.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 150,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total value of $2,941,500.00. Following the completion of the transaction, the insider now owns 4,157,489 shares in the company, valued at approximately $81,528,359.29. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 594,584 shares of company stock worth $12,156,101. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

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