FNY Investment Advisers LLC Invests $47,000 in Redwire Corporation (NYSE:RDW)

FNY Investment Advisers LLC purchased a new position in Redwire Corporation (NYSE:RDW) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,698 shares of the company’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp purchased a new position in Redwire during the fourth quarter worth about $1,151,000. Wolverine Asset Management LLC raised its stake in Redwire by 332.2% during the fourth quarter. Wolverine Asset Management LLC now owns 15,546 shares of the company’s stock worth $256,000 after purchasing an additional 11,949 shares during the period. Bank of New York Mellon Corp raised its stake in Redwire by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company’s stock worth $859,000 after purchasing an additional 3,357 shares during the period. Proficio Capital Partners LLC purchased a new position in Redwire during the fourth quarter worth about $278,000. Finally, US Bancorp DE purchased a new position in Redwire during the fourth quarter worth about $119,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Stock Down 18.6%

Shares of RDW opened at $16.75 on Wednesday. Redwire Corporation has a fifty-two week low of $4.87 and a fifty-two week high of $26.66. The company has a market cap of $1.29 billion, a P/E ratio of -7.41 and a beta of 2.53. The firm’s 50 day moving average price is $13.04 and its 200 day moving average price is $14.50.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $61.40 million for the quarter, compared to analyst estimates of $74.54 million. Research analysts forecast that Redwire Corporation will post -0.85 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on RDW. B. Riley reduced their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Wall Street Zen downgraded shares of Redwire from a “hold” rating to a “sell” rating in a research note on Saturday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 target price on shares of Redwire in a research note on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of Redwire in a research note on Wednesday, March 12th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.05.

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.