Redwire (NYSE:RDW) Shares Gap Down – Time to Sell?

Redwire Co. (NYSE:RDW) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.31, but opened at $11.58. Redwire shares last traded at $11.39, with a volume of 601,362 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HC Wainwright upped 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. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and upped their price target for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Roth Mkm raised their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald started coverage on Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.04.

Redwire Trading Up 2.3 %

The firm has a market cap of $838.35 million, a P/E ratio of -10.60 and a beta of 2.23. The business’s fifty day simple moving average is $18.84 and its 200-day simple moving average is $12.45.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 10,115 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the completion of the sale, the insider now owns 3,644,566 shares of the company’s stock, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 684,454 shares of company stock valued at $13,682,993 over the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares in the last quarter. Federated Hermes Inc. boosted its position in Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock valued at $8,202,000 after acquiring an additional 310,769 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Redwire during the 4th quarter worth approximately $4,830,000. EAM Global Investors LLC bought a new position in shares of Redwire in the 4th quarter worth approximately $4,689,000. Finally, Andar Capital Management HK Ltd purchased a new position in shares of Redwire in the 4th quarter valued at approximately $3,621,000. 8.10% of the stock is currently owned by institutional investors.

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.