Redwire (NYSE:RDW) Stock Price Down 15.2% – Time to Sell?

Redwire Co. (NYSE:RDW)’s share price traded down 15.2% during mid-day trading on Friday . The stock traded as low as $7.25 and last traded at $7.40. 1,731,502 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 2,089,874 shares. The stock had previously closed at $8.72.

Analysts Set New Price Targets

Several brokerages have weighed in on RDW. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. B. Riley reduced their price objective on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Price Performance

The stock has a market cap of $567.93 million, a P/E ratio of -6.21 and a beta of 2.51. The company’s 50 day simple moving average is $15.81 and its 200 day simple moving average is $13.11.

Insider Activity

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 4,322,853 shares in the company, valued at approximately $77,897,811.06. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 516,798 shares of company stock valued at $10,763,141 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 buying an additional 101,620 shares during the last quarter. Barclays PLC raised its holdings in shares of Redwire by 6.5% in the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock valued at $20,713,000 after purchasing an additional 77,228 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after purchasing an additional 30,963 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after purchasing an additional 310,769 shares during the last quarter. Finally, State Street Corp grew its position in Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares in the last quarter. 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.