Redwire (NYSE:RDW) Sets New 52-Week Low – Should You Sell?

Redwire Corporation (NYSE:RDW) shares reached a new 52-week low on Wednesday . The stock traded as low as $5.15 and last traded at $5.4450, with a volume of 4887164 shares. The stock had previously closed at $5.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RDW shares. Truist Financial reduced their price target on shares of Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Industrial Alliance Securities set a $9.00 price objective on Redwire in a research note on Thursday, November 6th. Bank of America decreased their target price on Redwire from $10.00 to $9.00 and set an “underperform” rating for the company in a research report on Friday, October 10th. Cantor Fitzgerald dropped their price target on Redwire from $28.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, HC Wainwright restated a “buy” rating and set a $22.00 price objective (down from $26.00) on shares of Redwire in a research note on Friday, August 8th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.25.

Redwire Price Performance

The firm has a market capitalization of $899.25 million, a price-to-earnings ratio of -1.72 and a beta of 2.46. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $8.16 and a two-hundred day moving average price of $11.72.

Insider Buying and Selling

In other news, CAO Chris Edmunds purchased 5,500 shares of Redwire stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $5.46 per share, with a total value of $30,030.00. Following the completion of the acquisition, the chief accounting officer owned 107,441 shares in the company, valued at $586,627.86. The trade was a 5.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron Michael Futch acquired 18,410 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average cost of $5.45 per share, for a total transaction of $100,334.50. Following the acquisition, 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 SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 56,065 shares of company stock valued at $330,047. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Hedge funds have recently made changes to their positions in the business. Abich Financial Wealth Management LLC bought a new position in Redwire in the 3rd quarter worth approximately $41,000. KLP Kapitalforvaltning AS acquired a new position in Redwire during the 1st quarter worth $42,000. Russell Investments Group Ltd. grew its stake in shares of Redwire by 308.6% in the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after purchasing an additional 3,672 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Redwire during the second quarter valued at $54,000. Finally, New York State Common Retirement Fund raised its stake in shares of Redwire by 656.7% during the first quarter. New York State Common Retirement Fund now owns 8,066 shares of the company’s stock valued at $67,000 after purchasing an additional 7,000 shares in 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.