Redwire (NYSE:RDW) Shares Gap Down - Here's What Happened

Redwire Co. (NYSE:RDW - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $13.62, but opened at $13.11. Redwire shares last traded at $12.77, with a volume of 172,032 shares.

Analyst Ratings Changes

RDW has been the subject of a number of research analyst reports. Roth Mkm increased their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Redwire in a research report on Wednesday, December 11th. B. Riley lowered shares of Redwire from a "buy" rating to a "neutral" rating and lifted their target price for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.13.

Redwire Price Performance

The firm has a market capitalization of $910.28 million, a price-to-earnings ratio of -11.28 and a beta of 2.25. The business's 50-day moving average price is $10.32 and its 200 day moving average price is $7.83.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Vontobel Holding Ltd. acquired a new stake in shares of Redwire during the third quarter worth approximately $74,000. The Manufacturers Life Insurance Company acquired a new position in Redwire during the 2nd quarter worth $74,000. AQR Capital Management LLC acquired a new position in Redwire during the 2nd quarter worth $89,000. MetLife Investment Management LLC increased its position in shares of Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company's stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Redwire by 17.2% in the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company's stock valued at $112,000 after purchasing an additional 2,296 shares in the last quarter. 8.10% of the stock is 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.