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

Redwire Co. (NYSE:RDW) shares gapped down before the market opened on Wednesday . The stock had previously closed at $22.33, but opened at $21.20. Redwire shares last traded at $20.07, with a volume of 858,074 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on RDW shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. HC Wainwright increased their price target on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and raised their price target for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Roth Mkm upped their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Redwire Stock Up 1.8 %

The firm has a market cap of $1.47 billion, a P/E ratio of -18.22 and a beta of 2.17. The firm’s fifty day moving average is $14.33 and its two-hundred day moving average is $9.66.

Insider Activity

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of Redwire stock in a transaction that occurred on 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 in the company, valued at $78,212,224.73. The trade was a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 417,656 shares of company stock valued at $7,663,352. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. SG Americas Securities LLC increased its stake in shares of Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock worth $150,000 after acquiring an additional 6,200 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Redwire by 129.1% in the third 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 period. Arkadios Wealth Advisors bought a new position in shares of Redwire during the fourth quarter valued at approximately $165,000. The Manufacturers Life Insurance Company purchased a new position in shares of Redwire during the second quarter valued at approximately $74,000. Finally, Penserra Capital Management LLC boosted its position in shares of Redwire by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after purchasing an additional 10,558 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.