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

Redwire Co. (NYSE:RDW - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $10.18, but opened at $9.67. Redwire shares last traded at $9.55, with a volume of 305,209 shares.

Wall Street Analysts Forecast Growth

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

Redwire Stock Up 3.1 %

The company has a 50-day moving average price of $12.63 and a two-hundred day moving average price of $13.28. The company has a market capitalization of $765.78 million, a PE ratio of -8.37 and a beta of 2.51.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 10,115 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total transaction of $243,872.65. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 416,798 shares of company stock valued at $8,961,141 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Redwire

A number of hedge funds have recently bought and sold shares of the company. Andar Capital Management HK Ltd bought a new position in Redwire during the 4th quarter worth approximately $3,621,000. Mesirow Financial Investment Management Inc. bought a new stake in Redwire during the 4th quarter valued at $448,000. State Street Corp grew its holdings in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock worth $3,252,000 after acquiring an additional 35,519 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Redwire by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company's stock valued at $1,080,000 after acquiring an additional 2,533 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Redwire by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock valued at $21,573,000 after acquiring an additional 101,620 shares during the last quarter. 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.