Redwire (NYSE:RDW) Stock Price Down 6.7% - Time to Sell?

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) fell 6.7% during trading on Monday . The stock traded as low as $18.16 and last traded at $18.10. 3,372,678 shares were traded during mid-day trading, an increase of 111% from the average session volume of 1,596,787 shares. The stock had previously closed at $19.41.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RDW shares. Canaccord Genuity Group upped their target price on shares of Redwire from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. HC Wainwright reaffirmed a "buy" rating and issued a $26.00 target price on shares of Redwire in a report on Tuesday, June 24th. Truist Financial set a $16.00 target price on shares of Redwire and gave the stock a "hold" rating in a report on Thursday, June 26th. Roth Capital reaffirmed a "buy" rating on shares of Redwire in a report on Tuesday, June 24th. Finally, Wall Street Zen raised Redwire from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.61.

Redwire Price Performance

The firm's 50 day moving average is $16.18 and its two-hundred day moving average is $14.89. The firm has a market capitalization of $2.29 billion, a P/E ratio of -7.10 and a beta of 2.54.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $61.40 million during the quarter, compared to the consensus estimate of $74.54 million. Analysts anticipate that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. increased its stake in Redwire by 10.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company's stock worth $302,000 after acquiring an additional 1,751 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Redwire during the 2nd quarter worth $172,000. KLP Kapitalforvaltning AS increased its stake in Redwire by 149.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,700 shares of the company's stock worth $207,000 after acquiring an additional 7,600 shares during the period. Tcfg Wealth Management LLC increased its stake in Redwire by 25.9% during the 2nd quarter. Tcfg Wealth Management LLC now owns 25,265 shares of the company's stock worth $412,000 after acquiring an additional 5,200 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Redwire during the 2nd quarter worth $54,000. 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.