Redwire (NYSE:RDW) Stock Price Down 4.4% – Time to Sell?

Redwire Co. (NYSE:RDW) was down 4.4% during mid-day trading on Tuesday . The company traded as low as $16.71 and last traded at $16.88. Approximately 752,866 shares were traded during mid-day trading, an increase of 78% from the average daily volume of 421,867 shares. The stock had previously closed at $17.65.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDW. B. Riley cut Redwire from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Redwire in a report on Wednesday, December 11th. Finally, Roth Mkm increased their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Redwire has an average rating of “Moderate Buy” and an average target price of $10.13.

Redwire Trading Down 4.4 %

The company has a 50-day moving average price of $11.69 and a 200 day moving average price of $8.49. The stock has a market capitalization of $1.12 billion, a P/E ratio of -13.95 and a beta of 2.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Barclays PLC grew its holdings in Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after purchasing an additional 422,854 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Redwire during the 3rd quarter worth $623,000. Bank of New York Mellon Corp grew its stake in Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after buying an additional 59,372 shares during the last quarter. LJI Wealth Management LLC acquired a new position in Redwire during the 2nd quarter valued at about $258,000. Finally, State Street Corp raised its stake in Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

About Redwire

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.