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

Redwire Co. (NYSE:RDW)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $11.05, but opened at $10.69. Redwire shares last traded at $10.57, with a volume of 166,273 shares trading hands.

Wall Street Analysts Forecast Growth

RDW has been the subject of several research reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. B. Riley reduced their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th. Finally, HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Stock Down 6.8 %

The firm has a market cap of $778.02 million, a price-to-earnings ratio of -8.51 and a beta of 2.33. The stock has a 50 day moving average of $17.22 and a 200 day moving average of $12.99.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total value of $243,872.65. Following the completion of the transaction, the insider now directly owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 684,454 shares of company stock worth $13,682,993. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Redwire

Several institutional investors have recently modified their holdings of RDW. Vanguard Group Inc. raised its position in Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock worth $21,573,000 after purchasing an additional 101,620 shares during the last quarter. Barclays PLC increased its stake in shares of Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock valued at $20,713,000 after buying an additional 77,228 shares during the period. Geode Capital Management LLC raised its position in shares of Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after acquiring an additional 30,963 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after acquiring an additional 310,769 shares during the period. Finally, State Street Corp boosted its holdings in Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after acquiring an additional 35,519 shares during the last quarter. 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.