Redwire (NYSE:RDW) Trading Down 10.2% - What's Next?

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

Analyst Ratings Changes

RDW has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of Redwire in a research report on Friday, January 24th. They set an "overweight" rating and a $28.00 price objective for the company. HC Wainwright upped their price objective 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. B. Riley upgraded shares of Redwire from a "neutral" rating to a "buy" rating and boosted their target price for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Finally, Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.04.

Redwire Stock Down 3.3 %

The business's 50 day simple moving average is $18.78 and its two-hundred day simple moving average is $12.51. The stock has a market cap of $908.95 million, a P/E ratio of -11.24 and a beta of 2.23.

Insider Activity

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were 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 SEC, which is available through this link. Insiders have sold 684,454 shares of company stock worth $13,682,993 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Redwire in the 4th quarter valued at about $587,000. Squarepoint Ops LLC bought a new stake in shares of Redwire during the 4th quarter valued at $489,000. Two Sigma Advisers LP bought a new position in shares of Redwire during the fourth quarter valued at approximately $339,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Redwire by 4.3% in the fourth 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. bought a new position in Redwire in the 4th quarter worth $4,830,000. Institutional investors own 8.10% of the company's stock.

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.