Werlinich Asset Management LLC Invests $652,000 in Redwire Corporation $RDW

Werlinich Asset Management LLC purchased a new position in shares of Redwire Corporation (NYSE:RDW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 53,350 shares of the company’s stock, valued at approximately $652,000.

Several other large investors also recently bought and sold shares of RDW. Alyeska Investment Group L.P. acquired a new stake in Redwire in the 2nd quarter valued at about $11,186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Redwire by 132.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 274,715 shares of the company’s stock worth $3,360,000 after purchasing an additional 156,481 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after purchasing an additional 4,341,424 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Redwire by 28.5% in the second quarter. Hsbc Holdings PLC now owns 28,679 shares of the company’s stock valued at $350,000 after purchasing an additional 6,354 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Redwire in the second quarter valued at approximately $521,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Jefferies Financial Group set a $15.00 target price on Redwire in a research note on Sunday, August 9th. Cantor Fitzgerald boosted 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, Canaccord Genuity Group upped their price objective on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Redwire presently has an average rating of “Hold” and a consensus target price of $14.69.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares of the company’s stock, valued at $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 available at this hyperlink. 0.79% of the stock is currently owned by company insiders.

Redwire Stock Up 0.1%

RDW stock opened at $10.34 on Friday. Redwire Corporation has a one year low of $4.87 and a one year high of $26.64. The firm has a market cap of $2.58 billion, a PE ratio of -7.08 and a beta of 3.08. The firm’s 50 day moving average price is $10.78 and its 200-day moving average price is $11.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, equities research analysts anticipate that Redwire Corporation will post -0.7 EPS for the current year.

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.