Redwire (NYSE:RDW) Shares Down 6.8% - Here's Why

Redwire Co. (NYSE:RDW - Get Free Report)'s stock price was down 6.8% during trading on Wednesday . The stock traded as low as $22.51 and last traded at $21.99. Approximately 1,138,752 shares traded hands during trading, a decline of 45% from the average daily volume of 2,051,947 shares. The stock had previously closed at $23.58.

Analyst Upgrades and Downgrades

RDW has been the subject of a number of recent research reports. B. Riley raised shares of 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 research note on Monday, January 27th. HC Wainwright upped their target price on shares of Redwire from $18.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Roth Mkm raised their price target on Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald started coverage on Redwire in a report on Friday, January 24th. They issued an "overweight" rating and a $28.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Redwire has a consensus rating of "Buy" and an average target price of $18.04.

Redwire Trading Down 12.9 %

The firm's fifty day moving average price is $18.80 and its 200-day moving average price is $12.16. The company has a market cap of $951.19 million, a price-to-earnings ratio of -11.81 and a beta of 2.23.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total value of $243,872.65. Following the transaction, the insider now owns 3,644,566 shares of the company's stock, valued at approximately $87,870,486.26. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 684,454 shares of company stock valued at $13,682,993. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Redwire

Several large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in Redwire in the 4th quarter worth $33,000. Summit Investment Advisors Inc. lifted its holdings in shares of Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after purchasing an additional 931 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Redwire during the fourth quarter worth about $63,000. Jones Financial Companies Lllp grew its holdings in shares of 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 buying an additional 1,372 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in Redwire in the 4th quarter valued at approximately $119,000. 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.