Jupiter Topco LLC bought a new stake in Redwire Corporation (NYSE:RDW – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 73,100 shares of the company’s stock, valued at approximately $894,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in RDW. Parvin Asset Management LLC increased its holdings in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after acquiring an additional 1,150 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Redwire by 32.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares in the last quarter. BNP Paribas Financial Markets grew its position in Redwire by 12.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after purchasing an additional 3,248 shares during the period. Parallel Advisors LLC acquired a new stake in Redwire in the 1st quarter valued at $28,000. Finally, KBC Group NV bought a new stake in Redwire during the 1st quarter valued at $29,000. Institutional investors own 8.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on RDW. Canaccord Genuity Group raised their price objective on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Bank of America upped their target price on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, August 31st. Cantor Fitzgerald raised their price target on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.69.
Redwire Price Performance
Shares of NYSE:RDW opened at $10.55 on Friday. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.64 billion, a PE ratio of -7.23 and a beta of 3.08. The stock’s fifty day simple moving average is $10.77 and its two-hundred day simple moving average is $11.48. Redwire Corporation has a 1-year low of $4.87 and a 1-year high of $26.64.
Redwire (NYSE:RDW – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. As a group, analysts forecast that Redwire Corporation will post -0.7 EPS for the current fiscal year.
Insider Transactions at Redwire
In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.
Redwire Profile
Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.
Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.
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