Redwire (NYSE:RDW) Shares Down 5.9% – Should You Sell?

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald dropped their price objective on Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Canaccord Genuity Group cut their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. KeyCorp initiated coverage on shares of Redwire in a research report on Thursday. They set a “sector weight” rating on the stock. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Redwire presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Redwire Stock Performance

The stock has a 50-day moving average price of $6.82 and a 200 day moving average price of $10.76. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.22 and a beta of 2.48.

Insider Buying and Selling at Redwire

In other news, EVP Aaron Michael Futch acquired 18,410 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $5.45 per share, with a total value of $100,334.50. Following the transaction, the executive vice president owned 88,704 shares in the company, valued at approximately $483,436.80. This trade represents a 26.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Anthony Cannito, Jr. bought 32,155 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $6.21 per share, for a total transaction of $199,682.55. Following the acquisition, the chief executive officer directly owned 526,728 shares of the company’s stock, valued at $3,270,980.88. The trade was a 6.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 56,065 shares of company stock valued at $330,047. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in RDW. Goldman Sachs Group Inc. grew its stake in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the last quarter. AE Industrial Partners LP boosted its holdings in shares of Redwire by 139.3% in the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after acquiring an additional 49,765,262 shares during the period. Canal Insurance CO purchased a new position in shares of Redwire during the second quarter worth approximately $3,260,000. Jump Financial LLC purchased a new position in shares of Redwire during the first quarter worth approximately $425,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Redwire in the 2nd quarter valued at $3,640,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.