Redwire (NYSE:RDW) Stock Price Down 4.4% on Insider Selling

Redwire Co. (NYSE:RDW) was down 4.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $16.71 and last traded at $16.88. Approximately 752,866 shares traded hands 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.

Specifically, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now directly owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Park Lp Genesis II sold 89,870 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the sale, the insider now owns 4,603,427 shares in the company, valued at $78,212,224.73. This represents a 1.91 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Redwire in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Redwire presently has an average rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Trading Down 6.7 %

The firm has a market cap of $1.10 billion, a P/E ratio of -13.60 and a beta of 2.25. The business has a 50-day moving average of $11.99 and a two-hundred day moving average of $8.62.

Institutional Investors Weigh In On Redwire

Institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new position in shares of Redwire during the third quarter valued at $74,000. The Manufacturers Life Insurance Company acquired a new stake in Redwire in the second quarter valued at $74,000. AQR Capital Management LLC bought a new position in Redwire during the 2nd 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 worth $97,000 after buying an additional 7,921 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Redwire in the 3rd quarter valued at about $139,000. 8.10% of the stock is owned by 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.