Redwire (NYSE:RDW) Shares Gap Down – Here’s Why

Shares of Redwire Co. (NYSE:RDW) gapped down prior to trading on Tuesday . The stock had previously closed at $13.62, but opened at $13.11. Redwire shares last traded at $12.77, with a volume of 172,032 shares traded.

Wall Street Analyst Weigh In

RDW has been the subject of a number of recent analyst reports. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and boosted their target price for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Redwire in a research report on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. Finally, Roth Mkm increased their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Stock Performance

The firm has a market capitalization of $896.97 million, a PE ratio of -10.88 and a beta of 2.25. The stock has a fifty day moving average price of $10.32 and a 200-day moving average price of $7.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after buying an additional 30,963 shares during the last quarter. Barclays PLC raised its holdings in shares of 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 buying an additional 422,854 shares during the last quarter. State Street Corp raised its stake in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after acquiring an additional 35,519 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Redwire during the third quarter worth about $139,000. Finally, MetLife Investment Management LLC lifted its stake in Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after acquiring an additional 7,921 shares during the period. Hedge funds and other institutional investors 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.