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

Redwire Co. (NYSE:RDW) shares 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 traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RDW shares. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Roth Mkm increased their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Redwire in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Redwire has an average rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Stock Performance

The stock has a fifty day simple moving average of $13.42 and a 200-day simple moving average of $9.25. The stock has a market cap of $916.93 million, a P/E ratio of -11.39 and a beta of 2.17.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the sale, the insider now owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 267,656 shares of company stock valued at $4,721,852 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new position in shares of Redwire during the 2nd quarter worth about $74,000. Vontobel Holding Ltd. acquired a new position in Redwire during the third quarter valued at approximately $74,000. AQR Capital Management LLC bought a new position in Redwire in the second quarter valued at approximately $89,000. MetLife Investment Management LLC increased its position in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. Finally, Brookstone Capital Management bought a new stake in shares of Redwire during the 4th quarter worth approximately $329,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.