Redwire (NYSE:RDW) Stock Price Down 5.7% - Should You Sell?

Redwire Co. (NYSE:RDW - Get Free Report) shares dropped 5.7% during mid-day trading on Wednesday . The stock traded as low as $11.03 and last traded at $11.09. Approximately 310,074 shares were traded during trading, a decline of 63% from the average daily volume of 841,469 shares. The stock had previously closed at $11.76.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. B. Riley dropped their target price on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. HC Wainwright reiterated a "buy" rating and issued a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.71.

Redwire Trading Down 10.7 %

The company has a fifty day moving average of $17.01 and a 200-day moving average of $13.03. The stock has a market cap of $665.42 million, a PE ratio of -7.28 and a beta of 2.33.

Insider Activity

In other Redwire news, major shareholder Park Lp Genesis II sold 72,415 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $17.90, for a total value of $1,296,228.50. Following the sale, the insider now directly owns 4,422,853 shares of the company's stock, valued at approximately $79,169,068.70. This represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 594,584 shares of company stock valued at $12,156,101. 2.60% of the stock is currently owned by company insiders.

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Hedge Funds Weigh In On Redwire

Several large investors have recently bought and sold shares of RDW. Vanguard Group Inc. lifted its holdings in shares of Redwire by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock valued at $21,573,000 after purchasing an additional 101,620 shares during the last quarter. Barclays PLC increased its position in Redwire by 6.5% during the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company's stock worth $20,713,000 after buying an additional 77,228 shares during the period. Geode Capital Management LLC lifted its stake in Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock valued at $3,599,000 after buying an additional 30,963 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Redwire by 165.7% in 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 period. Finally, State Street Corp increased its holdings 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.

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.