Insider Selling Activity at Redwire Co. (NYSE:RDW)

Redwire Co. (NYSE:RDW) has recently seen significant insider activity as one of its major shareholders, Park Lp Genesis II, sold 5,371 shares of the company's stock. This transaction took place on Monday, December 30th, and the shares were sold at an average price of $18.01, resulting in a total transaction value of $96,731.71. After this sale, Park Lp Genesis II now directly holds 4,598,056 shares in Redwire, worth approximately $82,810,988.56. This represents a 0.12% decrease in their ownership position. The sale has been publicly disclosed in a legal filing with the SEC, which can be accessed through the relevant channels. It's important to note that large shareholders owning 10% or more of a company's stock are required to disclose such transactions.

Previous Transactions by Park Lp Genesis II

In addition to the recent sale of 5,371 shares, Park Lp Genesis II executed other significant trades recently. Notably, on December 27th, this major shareholder sold 89,870 shares of Redwire stock at an average price of $16.99, leading to a total transaction amount of $1,526,891.30.

Current Stock Performance

As of Tuesday, Redwire's shares traded down by $1.19 during market hours, bringing the stock price down to $16.46. The trading volume for the day reached 1,453,041 shares, significantly surpassing the average trading volume of 424,221 shares. Redwire has a market capitalization of approximately $1.10 billion, with a price-to-earnings ratio of -13.60. The stock’s beta is 2.25, indicating higher volatility compared to the broader market. The firm's 50-day moving average currently stands at $11.69, while the 200-day moving average is $8.49. Over the past year, Redwire has experienced a low of $2.68 and a high of $18.28.

Analysts' Price Targets

Several research firms have recently adjusted their ratings and price targets for Redwire. Notably, Cantor Fitzgerald maintained an "overweight" rating and set a price target of $6.00 in a report released on September 30th. HC Wainwright reaffirmed a "buy" rating with an $18.00 target price on December 11th. Roth Mkm raised their price target from $10.00 to $13.00 and labeled Redwire as a "buy" in their report on November 8th. Meanwhile, B. Riley downgraded the stock from a "buy" to a "neutral" rating, increasing their price target from $8.00 to $9.50 back on October 29th. Currently, one investment analyst has assigned a hold rating to Redwire, while five analysts have given it a buy rating. According to MarketBeat, the average rating for Redwire is labeled as "Moderate Buy", with an average price target of $10.13.

Institutional Investor Activity

There has been notable institutional activity regarding Redwire shares in recent quarters. For instance, Harbor Capital Advisors Inc. acquired a new position in Redwire during the third quarter, valued at approximately $623,000. Barclays PLC significantly increased its holdings in Redwire by 55.8% during the same period, owning 1,181,138 shares valued at about $8,115,000 after buying an additional 422,854 shares. Meanwhile, Bank of New York Mellon Corp grew its stake by an impressive 496.1%, owning 71,340 shares after a buy of 59,372 shares last quarter. Other institutional investors, such as LJI Wealth Management LLC and Rhumbline Advisers, have also made moves to increase their stakes in Redwire. Currently, 8.10% of Redwire's stock is owned by hedge funds and various institutional investors.

About Redwire Co.

Redwire Corporation specializes in providing essential space solutions and infrastructure for both governmental and commercial clients. The company is involved in the development of avionics and sensors crucial for spacecraft navigation, as well as offering camera systems, solar arrays, and structural components, such as booms and trusses that help in the positioning of spacecraft systems.

Insider, Selling, Stocks