Redwire (NYSE:RDW) Stock Price Down 15.2% - What's Next?

Redwire Co. (NYSE:RDW - Get Free Report) shares fell 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 trading, a decline of 17% from the average session volume of 2,089,874 shares. The stock had previously closed at $8.72.

Wall Street Analyst Weigh In

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

Redwire Price Performance

The stock has a market cap of $751.95 million, a P/E ratio of -8.22 and a beta of 2.51. The firm's 50-day moving average price is $14.96 and its 200-day moving average price is $13.13.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 150,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total value of $2,941,500.00. Following the completion of the sale, the insider now owns 4,157,489 shares of the company's stock, valued at $81,528,359.29. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 416,798 shares of company stock valued at $8,961,141 in the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Redwire

A number of large investors have recently modified their holdings of RDW. GAMMA Investing LLC grew its position in shares of Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock worth $52,000 after buying an additional 6,217 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Redwire during the fourth quarter valued at approximately $587,000. Squarepoint Ops LLC purchased a new position in Redwire during the fourth quarter valued at approximately $489,000. Two Sigma Advisers LP bought a new stake in Redwire during the 4th quarter valued at $339,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Redwire by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company's stock valued at $212,000 after acquiring an additional 532 shares during the period. Hedge funds and other institutional investors own 8.10% of the company's stock.

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.