Redwire (NYSE:RDW) Trading Down 8.8% - Here's Why

Redwire Co. (NYSE:RDW - Get Free Report) traded down 8.8% during trading on Monday . The stock traded as low as $9.17 and last traded at $9.22. 396,700 shares were traded during trading, a decline of 59% from the average session volume of 959,252 shares. The stock had previously closed at $10.11.

Analyst Ratings Changes

Several equities analysts recently commented on RDW shares. B. Riley cut their target price on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. 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 reaffirmed an "overweight" rating and issued a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.71.

Redwire Trading Up 4.8 %

The company has a market cap of $805.61 million, a price-to-earnings ratio of -8.77 and a beta of 2.51. The firm's fifty day moving average price is $11.72 and its 200-day moving average price is $13.29.

Insider Buying and Selling

In related news, major shareholder Park Lp Genesis II sold 6,683 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $22.56, for a total value of $150,768.48. Following the completion of the transaction, the insider now directly owns 3,704,664 shares of the company's stock, valued at approximately $83,577,219.84. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 166,798 shares of company stock valued at $3,827,641. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Andar Capital Management HK Ltd bought a new stake in Redwire during the 4th quarter worth about $3,621,000. Mesirow Financial Investment Management Inc. bought a new position in Redwire in the 4th quarter valued at about $448,000. Vanguard Group Inc. grew its position in shares of Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after purchasing an additional 101,620 shares in the last quarter. State Street Corp grew its position in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock worth $3,252,000 after purchasing an additional 35,519 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Redwire by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company's stock worth $1,080,000 after purchasing an additional 2,533 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.