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

Shares of Redwire Co. (NYSE:RDW) gapped down before the market opened on Tuesday . The stock had previously closed at $11.26, but opened at $9.55. Redwire shares last traded at $10.01, with a volume of 564,558 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RDW shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of Redwire in a research note on Wednesday. B. Riley decreased their price objective on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Stock Down 3.2 %

The firm has a fifty day moving average of $18.20 and a 200-day moving average of $12.67. The firm has a market cap of $663.75 million, a P/E ratio of -8.24 and a beta of 2.33.

Insider Activity

In related news, major shareholder Park Lp Genesis II sold 150,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total transaction of $2,941,500.00. Following the transaction, the insider now directly owns 4,157,489 shares in the company, valued at approximately $81,528,359.29. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RDW. Barclays PLC lifted its position in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after buying an additional 422,854 shares during the last quarter. Federated Hermes Inc. boosted its position in Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after purchasing an additional 310,769 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Redwire in the fourth quarter valued at $4,830,000. EAM Global Investors LLC bought a new position in shares of Redwire in the fourth quarter valued at about $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new stake in shares of Redwire during the 4th quarter worth about $3,621,000. 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.