Redwire (NYSE:RDW) Shares Down 10.2% – What’s Next?

Shares of Redwire Co. (NYSE:RDW) dropped 10.2% on Monday . The company traded as low as $12.69 and last traded at $12.54. Approximately 1,008,625 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 726,854 shares. The stock had previously closed at $13.97.

Analysts Set New Price Targets

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

Redwire Price Performance

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

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire 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 sale, the insider now owns 3,644,566 shares of the company’s stock, valued at $87,870,486.26. The trade was a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 684,454 shares of company stock worth $13,682,993. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Redwire by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock valued at $212,000 after buying an additional 532 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Redwire by 7.8% in the fourth quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock valued at $179,000 after acquiring an additional 782 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after acquiring an additional 931 shares during the period. Jones Financial Companies Lllp raised its holdings in Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Quarry LP acquired a new stake in Redwire in the fourth quarter worth approximately $33,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.