Redwire (NYSE:RDW) Stock Price Down 6% – Time to Sell?

Shares of Redwire Co. (NYSE:RDW) were down 6% during mid-day trading on Tuesday . The stock traded as low as $12.93 and last traded at $13.10. Approximately 673,704 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 1,172,552 shares. The stock had previously closed at $13.94.

Wall Street Analyst Weigh In

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

Redwire Stock Performance

The firm has a market capitalization of $915.60 million, a P/E ratio of -11.37 and a beta of 2.17. The firm has a 50 day simple moving average of $13.30 and a two-hundred day simple moving average of $9.21.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.02, for a total transaction of $1,802,000.00. Following the completion of the transaction, the insider now owns 4,322,853 shares in the company, valued at $77,897,811.06. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 267,656 shares of company stock worth $4,721,852. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently modified their holdings of the business. Vontobel Holding Ltd. bought a new stake in Redwire during the third quarter valued at approximately $74,000. The Manufacturers Life Insurance Company purchased a new position in Redwire in the second quarter worth $74,000. AQR Capital Management LLC bought a new position in Redwire in the second quarter valued at $89,000. MetLife Investment Management LLC raised its position in Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in Redwire during the third quarter worth about $139,000. Hedge funds and other 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.