Redwire (NYSE:RDW) Trading Down 4.9% – Should You Sell?

Redwire Co. (NYSE:RDW)’s stock price fell 4.9% during trading on Wednesday . The stock traded as low as $12.84 and last traded at $13.11. 345,440 shares changed hands during trading, a decline of 6% from the average session volume of 368,303 shares. The stock had previously closed at $13.78.

Analyst Ratings Changes

Several equities analysts recently commented on RDW shares. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. Roth Mkm boosted their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price target on shares of Redwire in a report on Monday, September 30th. Finally, HC Wainwright began coverage on shares of Redwire in a research note on Tuesday. They set a “buy” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.13.

Redwire Stock Performance

The business’s 50-day moving average price is $8.89 and its two-hundred day moving average price is $7.14.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after purchasing an additional 2,296 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after acquiring an additional 7,538 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after acquiring an additional 7,921 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Redwire during the second quarter worth $74,000. 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.