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

Redwire Co. (NYSE:RDW) 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 were traded 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RDW shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. B. Riley cut their price target on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Trading Down 13.8 %

The company’s 50 day simple moving average is $16.09 and its 200 day simple moving average is $13.05. The stock has a market capitalization of $567.93 million, a PE ratio of -6.21 and a beta of 2.33.

Insider Activity

In other Redwire news, major shareholder Park Lp Genesis II sold 6,683 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $22.56, for a total transaction of $150,768.48. Following the transaction, the insider now owns 3,704,664 shares of the company’s stock, valued at $83,577,219.84. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 516,798 shares of company stock valued at $10,763,141 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors have recently made changes to their positions in RDW. Public Employees Retirement System of Ohio purchased a new position in Redwire in the fourth quarter valued at approximately $587,000. Squarepoint Ops LLC purchased a new stake in shares of Redwire in the fourth quarter worth about $489,000. Two Sigma Advisers LP acquired a new stake in shares of Redwire in the fourth quarter valued at about $339,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock valued at $212,000 after buying an additional 532 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Redwire during the 4th quarter worth approximately $4,830,000. 8.10% of the stock is owned by hedge funds and other 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.