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

Redwire Co. (NYSE:RDW)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $16.42, but opened at $15.49. Redwire shares last traded at $14.55, with a volume of 458,468 shares.

Analyst Ratings Changes

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

Redwire Price Performance

The business has a fifty day moving average price of $18.80 and a 200 day moving average price of $12.16. The company has a market capitalization of $948.20 million, a price-to-earnings ratio of -11.68 and a beta of 2.23.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total transaction of $243,872.65. Following the completion of the transaction, the insider now directly owns 3,644,566 shares of the company’s stock, valued at approximately $87,870,486.26. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 684,454 shares of company stock valued at $13,682,993. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Redwire by 165.7% in the 4th 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 in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Redwire during the fourth quarter valued at approximately $4,830,000. EAM Global Investors LLC bought a new stake in Redwire during the fourth quarter worth approximately $4,689,000. Finally, Andar Capital Management HK Ltd acquired a new position in Redwire in the fourth quarter worth approximately $3,621,000. Institutional investors and hedge funds 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.