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

Redwire Co. (NYSE:RDW) gapped down prior to trading on Tuesday . The stock had previously closed at $13.62, but opened at $13.11. Redwire shares last traded at $12.77, with a volume of 172,032 shares traded.

Analysts Set New Price Targets

RDW has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Redwire in a report on Wednesday, December 11th. B. Riley cut Redwire from a “buy” rating to a “neutral” rating and raised their target price for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. Finally, Roth Mkm increased their price objective on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and an average target price of $10.13.

Redwire Stock Performance

The business’s 50 day moving average price is $10.54 and its two-hundred day moving average price is $7.93. The company has a market capitalization of $829.77 million, a price-to-earnings ratio of -10.31 and a beta of 2.25.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Vontobel Holding Ltd. bought a new position in shares of Redwire in the third quarter valued at $74,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire during the second quarter worth $74,000. AQR Capital Management LLC purchased a new stake in shares of Redwire during the second quarter valued at $89,000. MetLife Investment Management LLC increased its stake in Redwire by 129.1% in the 3rd 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 in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Redwire by 17.2% during the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after buying an additional 2,296 shares during the period. 8.10% of the stock is owned by 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.