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

Redwire Co. (NYSE:RDW - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $12.31, but opened at $11.58. Redwire shares last traded at $11.39, with a volume of 601,362 shares.

Analysts Set New Price Targets

RDW has been the subject of a number of recent analyst reports. HC Wainwright upped their price target on shares of Redwire from $18.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. B. Riley raised shares of Redwire from a "neutral" rating to a "buy" rating and upped their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Cantor Fitzgerald began coverage on Redwire in a research note on Friday, January 24th. They issued an "overweight" rating and a $28.00 target price on the stock. Finally, Roth Mkm upped their price target on Redwire from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Redwire currently has a consensus rating of "Buy" and a consensus target price of $18.04.

Redwire Trading Down 2.3 %

The stock has a market cap of $917.60 million, a P/E ratio of -11.41 and a beta of 2.23. The business's 50 day moving average price is $18.78 and its two-hundred day moving average price is $12.51.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $19.61, for a total value of $2,941,500.00. Following the completion of the transaction, the insider now owns 4,157,489 shares in the company, valued at $81,528,359.29. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company's stock valued at $8,115,000 after buying an additional 422,854 shares in the last quarter. Federated Hermes Inc. lifted its position in Redwire by 165.7% during the 4th 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 period. Jacobs Levy Equity Management Inc. bought a new stake in Redwire during the fourth quarter worth about $4,830,000. EAM Global Investors LLC purchased a new stake in Redwire in the fourth quarter worth about $4,689,000. Finally, Andar Capital Management HK Ltd bought a new position in shares of Redwire during the fourth quarter valued at approximately $3,621,000. 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.