Redwire (NYSE:RDW) Stock Price Down 10.6% – What’s Next?

Redwire Co. (NYSE:RDW) traded down 10.6% on Monday . The company traded as low as $10.80 and last traded at $10.79. 599,157 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 771,883 shares. The stock had previously closed at $12.06.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright upped their target price on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 target price on shares of Redwire in a research note on Tuesday. Finally, B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $18.04.

Redwire Price Performance

The stock has a 50-day simple moving average of $18.33 and a 200-day simple moving average of $12.69. The stock has a market cap of $685.04 million, a PE ratio of -8.51 and a beta of 2.33.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the sale, the insider now owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 684,454 shares of company stock valued at $13,682,993. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Redwire in the fourth quarter worth about $33,000. Summit Investment Advisors Inc. boosted its position in shares of Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after buying an additional 931 shares during the period. Summit Securities Group LLC purchased a new position in Redwire in the fourth quarter valued at about $63,000. Jones Financial Companies Lllp boosted its holdings 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 during the last quarter. Finally, US Bancorp DE purchased a new position in Redwire in the fourth quarter valued at about $119,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.