Redwire (NYSE:RDW) Shares Down 10.6% - Here's What Happened

Shares of Redwire Co. (NYSE:RDW - Get Free Report) traded down 10.6% on Monday . The stock traded as low as $10.80 and last traded at $10.79. 599,157 shares traded hands during trading, a decline of 22% from the average session volume of 771,883 shares. The stock had previously closed at $12.06.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RDW shares. B. Riley decreased their price target on Redwire from $27.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday. HC Wainwright reissued a "buy" rating and issued a $26.00 target price on shares of Redwire in a research note on Wednesday. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research report on Tuesday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $28.00 target price on shares of Redwire in a report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Redwire currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.71.

Redwire Stock Performance

The business's 50-day moving average is $18.05 and its 200-day moving average is $12.64. The company has a market capitalization of $684.17 million, a PE ratio of -8.48 and a beta of 2.33.

Insider Activity at Redwire

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the sale, the insider now owns 4,598,056 shares of the company's stock, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 684,454 shares of company stock valued at $13,682,993 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

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Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Redwire in the 4th quarter worth $33,000. Summit Investment Advisors Inc. lifted its position in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after buying an additional 931 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Redwire during the 4th quarter valued at approximately $63,000. Jones Financial Companies Lllp raised its stake in Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after acquiring an additional 1,372 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Redwire by 129.1% in the third 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 period. 8.10% of the stock is currently owned by 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.