Redwire (NYSE:RDW) Shares Gap Down – Here’s What Happened

Redwire Co. (NYSE:RDW) gapped down before the market opened on Thursday . The stock had previously closed at $11.05, but opened at $10.69. Redwire shares last traded at $10.57, with a volume of 166,273 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RDW shares. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Redwire in a research report on Wednesday, March 12th. 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 research note on Wednesday, March 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 target price on shares of Redwire in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Trading Down 10.7 %

The company’s 50-day moving average is $17.01 and its two-hundred day moving average is $12.98. The stock has a market capitalization of $665.42 million, a P/E ratio of -7.28 and a beta of 2.33.

Insider Activity

In related news, major shareholder Park Lp Genesis II sold 72,415 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $17.90, for a total value of $1,296,228.50. Following the sale, the insider now directly owns 4,422,853 shares in the company, valued at $79,169,068.70. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 594,584 shares of company stock valued at $12,156,101. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. acquired a new stake in Redwire in the fourth quarter worth about $448,000. Andar Capital Management HK Ltd acquired a new position in Redwire in the fourth quarter worth approximately $3,621,000. State Street Corp increased its holdings in shares of Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares in the last quarter. Brookstone Capital Management acquired a new stake in shares of Redwire during the 4th quarter valued at $329,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Redwire during the 4th quarter worth $278,000. 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.