Redwire (NYSE:RDW) Shares Down 10.2% – Should You Sell?

Redwire Co. (NYSE:RDW)’s stock price fell 10.2% on Monday . The company traded as low as $12.69 and last traded at $12.54. 1,008,625 shares were traded during trading, an increase of 39% from the average session volume of 726,854 shares. The stock had previously closed at $13.97.

Analyst Ratings Changes

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

Redwire Stock Down 12.1 %

The stock has a market capitalization of $817.12 million, a PE ratio of -10.15 and a beta of 2.23. The stock’s 50-day moving average is $18.88 and its 200 day moving average is $12.41.

Insider Transactions at Redwire

In related news, major shareholder Park Lp Genesis II sold 10,115 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total value of $243,872.65. Following the transaction, the insider now owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is owned by insiders.

Institutional Trading of Redwire

Several large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Redwire during the 4th quarter valued at $33,000. Summit Investment Advisors Inc. increased its position in Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after buying an additional 931 shares during the last quarter. Summit Securities Group LLC bought a new position in Redwire during the fourth quarter valued at about $63,000. Jones Financial Companies Lllp lifted its position in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after buying an additional 1,372 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake 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 acquiring an additional 7,921 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

About Redwire

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.