Redwire (NYSE:RDW) Shares Gap Down – Here’s Why

Redwire Corporation (NYSE:RDW)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $8.52, but opened at $8.17. Redwire shares last traded at $8.3460, with a volume of 1,645,586 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RDW. Canaccord Genuity Group reduced their price objective on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Industrial Alliance Securities set a $9.00 price target on shares of Redwire in a research report on Thursday, November 6th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Finally, KeyCorp began coverage on shares of Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

Redwire Trading Down 1.6%

The business’s 50 day moving average is $6.74 and its two-hundred day moving average is $10.49. The firm has a market capitalization of $1.30 billion, a P/E ratio of -2.49 and a beta of 2.48. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

Insider Activity

In other news, CAO Chris Edmunds bought 5,500 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average price of $5.46 per share, with a total value of $30,030.00. Following the completion of the acquisition, the chief accounting officer directly owned 107,441 shares in the company, valued at approximately $586,627.86. This trade represents a 5.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aaron Michael Futch purchased 18,410 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were purchased at an average cost of $5.45 per share, with a total value of $100,334.50. Following the completion of the purchase, the executive vice president owned 88,704 shares in the company, valued at $483,436.80. This represents a 26.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 56,065 shares of company stock worth $330,047 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Abich Financial Wealth Management LLC acquired a new stake in Redwire in the 3rd quarter valued at about $41,000. Russell Investments Group Ltd. raised its holdings in shares of Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after purchasing an additional 3,672 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Redwire in the 2nd quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd lifted its stake in Redwire by 440.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after purchasing an additional 5,395 shares during the last quarter. Finally, Strs Ohio bought a new stake in Redwire during the first quarter worth approximately $69,000. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.