Redwire (NYSE:RDW) Shares Gap Down - What's Next?

Redwire Co. (NYSE:RDW - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.05, but opened at $10.69. Redwire shares last traded at $10.57, with a volume of 166,273 shares traded.

Analysts Set New Price Targets

Several research firms recently issued reports on RDW. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and issued a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. Finally, B. Riley reduced their price objective on Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.71.

Redwire Price Performance

The stock has a market cap of $615.69 million, a price-to-earnings ratio of -6.73 and a beta of 2.33. The firm has a fifty day moving average of $17.01 and a 200 day moving average of $13.08.

Insider Transactions at Redwire

In other 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 transaction of $243,872.65. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 589,213 shares of company stock worth $12,059,370 in the last quarter. Company insiders own 2.60% of the company's stock.

Remove Ads

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDW. Vanguard Group Inc. grew its holdings in shares of Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after purchasing an additional 101,620 shares during the period. Barclays PLC lifted its position in Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company's stock valued at $20,713,000 after buying an additional 77,228 shares during the last quarter. Geode Capital Management LLC boosted its stake in Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock worth $3,599,000 after buying an additional 30,963 shares during the period. Federated Hermes Inc. increased its position in shares of Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after acquiring an additional 310,769 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock valued at $3,252,000 after acquiring an additional 35,519 shares during the period. Institutional investors and hedge funds 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.