Redwire (NYSE:RDW) Trading Down 4.8% – Here’s Why

Redwire Co. (NYSE:RDW) was down 4.8% on Monday . The company traded as low as $13.15 and last traded at $13.39. Approximately 223,026 shares traded hands during trading, a decline of 41% from the average daily volume of 380,897 shares. The stock had previously closed at $14.07.

Analysts Set New Price Targets

Several analysts have issued reports on RDW shares. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and upped their target price for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. HC Wainwright started coverage on shares of Redwire in a report on Tuesday, November 26th. They set a “buy” rating and a $18.00 target price on the stock. Roth Mkm boosted their price target on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Price Performance

The company has a market capitalization of $837.74 million, a PE ratio of -10.45 and a beta of 2.25. The firm has a 50-day moving average of $9.70 and a 200 day moving average of $7.53.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Vontobel Holding Ltd. purchased a new position in shares of Redwire in the third quarter worth $74,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire in the second quarter worth approximately $74,000. AQR Capital Management LLC purchased a new stake in Redwire in the second quarter worth $89,000. MetLife Investment Management LLC lifted its holdings in 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 buying an additional 7,921 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after purchasing an additional 2,296 shares during the period. 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.