Shares of Redwire Corp. (RDW) plummeted 5.17% in Friday's intraday trading session, as multiple Wall Street analysts cut their price targets for the space infrastructure company. The stock's sharp decline comes amid a wave of pessimistic outlooks from major financial institutions.

H.C. Wainwright led the downgrades by reducing its price target for Redwire from $26 to $22. Truist Securities followed suit, lowering its target from $16 to $13, while Jefferies made the most significant cut, dropping its price target from $21 to $16. These reductions represent a concerning trend for Redwire investors, as they suggest diminished expectations for the company's future performance.

Despite the price target cuts, it's worth noting that H.C. Wainwright maintained its "Buy" rating on Redwire stock. This indicates that while the firm has tempered its short-term expectations, it still sees long-term potential in the company. However, the market's immediate reaction to the analyst revisions has been decidedly negative, as evidenced by the significant drop in share price during Friday's trading session.