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

Redwire Co. (NYSE:RDW)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $8.54, but opened at $8.23. Redwire shares last traded at $8.87, with a volume of 118,644 shares changing hands.

Analyst Ratings Changes

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

Redwire Price Performance

The stock has a market cap of $686.20 million, a price-to-earnings ratio of -7.50 and a beta of 2.33. The company’s 50 day moving average is $16.60 and its 200 day moving average is $13.11.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 72,415 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $17.90, for a total value of $1,296,228.50. Following the sale, the insider now owns 4,422,853 shares of the company’s stock, valued at approximately $79,169,068.70. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 589,213 shares of company stock valued at $12,059,370. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Redwire during the 4th quarter valued at about $587,000. Squarepoint Ops LLC acquired a new stake in shares of Redwire in the fourth quarter valued at approximately $489,000. Two Sigma Advisers LP purchased a new position in shares of Redwire during the 4th quarter worth approximately $339,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock worth $212,000 after purchasing an additional 532 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Redwire in the 4th quarter valued at approximately $4,830,000. 8.10% of the stock is currently owned by hedge funds and other 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.