Redwire (NYSE:RDW) Trading Down 7.7% – Time to Sell?

Redwire Co. (NYSE:RDW) was down 7.7% during mid-day trading on Monday . The company traded as low as $21.71 and last traded at $22.09. Approximately 766,832 shares changed hands during trading, a decline of 63% from the average daily volume of 2,065,662 shares. The stock had previously closed at $23.92.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RDW shares. Cantor Fitzgerald began coverage on Redwire in a report on Friday, January 24th. They issued an “overweight” rating and a $28.00 price target on the stock. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.50 to $27.00 in a research note on Monday, January 27th. Roth Mkm lifted their price target on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, HC Wainwright increased their price objective on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.04.

Redwire Stock Up 7.4 %

The stock’s fifty day simple moving average is $16.23 and its 200-day simple moving average is $10.63.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the sale, the insider now directly owns 4,603,427 shares of the company’s stock, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 617,656 shares of company stock worth $12,128,352 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. acquired a new stake in Redwire during the third quarter valued at $74,000. The Manufacturers Life Insurance Company acquired a new stake in Redwire during the 2nd quarter worth $74,000. AQR Capital Management LLC purchased a new stake in Redwire during the 2nd quarter valued at about $89,000. MetLife Investment Management LLC boosted its holdings in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in Redwire during the third quarter worth $139,000. 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.