Tcfg Wealth Management LLC Purchases 5,200 Shares of Redwire Corporation $RDW

Tcfg Wealth Management LLC boosted its position in shares of Redwire Corporation (NYSE:RDW) by 25.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,265 shares of the company’s stock after buying an additional 5,200 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Redwire were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RDW. Goldman Sachs Group Inc. raised its stake in shares of Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after acquiring an additional 276,814 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Redwire in the second quarter worth about $3,640,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Redwire during the 1st quarter valued at about $1,300,000. LBP AM SA increased its holdings in Redwire by 24.8% during the 1st quarter. LBP AM SA now owns 496,230 shares of the company’s stock valued at $4,114,000 after purchasing an additional 98,616 shares during the period. Finally, Nuveen LLC bought a new position in Redwire during the 1st quarter valued at approximately $761,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

Shares of RDW stock opened at $11.24 on Tuesday. The business’s fifty day moving average is $9.69 and its 200 day moving average is $12.18. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -3.46 and a beta of 2.47. Redwire Corporation has a twelve month low of $6.61 and a twelve month high of $26.66.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The firm had revenue of $61.76 million for the quarter, compared to analysts’ expectations of $80.48 million. Redwire had a negative net margin of 71.95% and a negative return on equity of 32.67%. Research analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total transaction of $86,130,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group cut their price objective on Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research report on Monday, August 11th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Truist Financial set a $16.00 price target on shares of Redwire and gave the company a “hold” rating in a report on Thursday, June 26th. Roth Capital reissued a “buy” rating on shares of Redwire in a research report on Tuesday, June 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.07.

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.