Redwire (NYSE:RDW) Stock Price Down 10.6% – Should You Sell?

Redwire Co. (NYSE:RDW) shares traded down 10.6% on Monday . The stock traded as low as $10.80 and last traded at $10.79. 599,157 shares changed 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.

Analyst Ratings Changes

A number of analysts recently commented 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 report on Wednesday, January 22nd. Cantor Fitzgerald assumed coverage on Redwire in a research report on Friday, January 24th. They issued an “overweight” rating and a $28.00 price objective for the company. Finally, B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.50 to $27.00 in a report on Monday, January 27th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $18.04.

Redwire Price Performance

The firm has a market cap of $721.50 million, a P/E ratio of -8.99 and a beta of 2.33. The company’s 50-day moving average is $18.58 and its two-hundred day moving average is $12.63.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 684,454 shares of company stock worth $13,682,993 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in RDW. Public Employees Retirement System of Ohio acquired a new position in Redwire in the fourth quarter valued at $587,000. Squarepoint Ops LLC bought a new position in shares of Redwire in the 4th quarter worth $489,000. Two Sigma Advisers LP acquired a new position in shares of Redwire during the fourth quarter valued at about $339,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Redwire by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after buying an additional 532 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Redwire during the fourth quarter worth about $4,830,000. 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.