Redwire (NYSE:RDW) Shares Gap Down - Should You Sell?

Shares of Redwire Co. (NYSE:RDW - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $9.19, but opened at $8.82. Redwire shares last traded at $8.80, with a volume of 179,056 shares changing hands.

Analysts Set New Price Targets

Several research firms recently issued reports on RDW. Cantor Fitzgerald restated an "overweight" rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. Alliance Global Partners increased their target price on shares of Redwire from $7.00 to $8.25 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Finally, B. Riley downgraded shares of Redwire from a "buy" rating to a "neutral" rating and boosted their price target for the company from $8.00 to $9.50 in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Redwire presently has an average rating of "Moderate Buy" and an average target price of $7.95.

Redwire Price Performance

The firm has a market capitalization of $558.27 million, a price-to-earnings ratio of -8.66 and a beta of 1.96. The firm has a 50 day moving average price of $7.09 and a 200-day moving average price of $6.14.

Redwire (NYSE:RDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to the consensus estimate of $66.86 million. Equities research analysts predict that Redwire Co. will post -0.87 earnings per share for the current year.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently made changes to their positions in RDW. SG Americas Securities LLC purchased a new stake in Redwire in the first quarter valued at approximately $59,000. Vanguard Group Inc. lifted its position in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company's stock worth $4,912,000 after acquiring an additional 3,681 shares during the period. DNB Asset Management AS grew its stake in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company's stock valued at $280,000 after purchasing an additional 7,538 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company's stock valued at $512,000 after purchasing an additional 59,372 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Redwire by 64.7% during the second quarter. Rhumbline Advisers now owns 32,335 shares of the company's stock worth $232,000 after purchasing an additional 12,703 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.