Redwire (NYSE:RDW) Trading Down 5.9% – Here’s What Happened

Redwire Corporation (NYSE:RDW) shares traded down 5.9% during mid-day trading on Tuesday . The company traded as low as $6.32 and last traded at $6.4850. 2,796,106 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 4,284,002 shares. The stock had previously closed at $6.89.

Analyst Ratings Changes

Several research analysts have recently commented on RDW shares. Roth Capital reiterated a “buy” rating and set a $15.00 price target on shares of Redwire in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Truist Financial reduced their price target on shares of Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Finally, Canaccord Genuity Group decreased their price target on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Redwire currently has a consensus rating of “Hold” and an average target price of $12.50.

Redwire Stock Down 5.0%

The business’s fifty day moving average is $7.03 and its two-hundred day moving average is $10.87. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -2.07 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 Buying and Selling

In other Redwire news, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of the stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $6.21 per share, with a total value of $199,682.55. Following the transaction, the chief executive officer owned 526,728 shares in the company, valued at $3,270,980.88. The trade was a 6.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aaron Michael Futch purchased 18,410 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average price of $5.45 per share, for a total transaction of $100,334.50. Following the completion of the purchase, the executive vice president directly owned 88,704 shares of the company’s stock, valued at $483,436.80. The trade was a 26.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 56,065 shares of company stock worth $330,047 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds have recently modified their holdings of RDW. Gabelli Funds LLC increased its stake in Redwire by 7.4% during the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company’s stock worth $156,000 after buying an additional 1,300 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after acquiring an additional 1,533 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Redwire by 10.4% in the second quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company’s stock worth $302,000 after acquiring an additional 1,751 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Redwire by 24.0% in the third quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock valued at $111,000 after purchasing an additional 2,442 shares during the last quarter. Finally, Huntleigh Advisors Inc. grew its stake in Redwire by 4.2% during the 3rd quarter. Huntleigh Advisors Inc. now owns 61,837 shares of the company’s stock valued at $556,000 after purchasing an additional 2,488 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.