Wealthfront Advisers LLC Invests $529,000 in Redwire Corporation $RDW

Wealthfront Advisers LLC acquired a new stake in Redwire Corporation (NYSE:RDW) in the second quarter, HoldingsChannel.com reports. The firm acquired 43,293 shares of the company’s stock, valued at approximately $529,000.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Redwire by 125.0% in the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after purchasing an additional 28,576 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares in the last quarter. Strs Ohio acquired a new stake in shares of Redwire in the first quarter valued at approximately $69,000. Rhumbline Advisers grew its holdings in Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after buying an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Redwire by 57.6% during the second quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after acquiring an additional 7,750 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on RDW. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research report on Sunday, August 9th. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.44.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Redwire Stock Performance

Redwire stock opened at $11.99 on Friday. Redwire Corporation has a 52 week low of $4.87 and a 52 week high of $26.64. 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 $3.00 billion, a P/E ratio of -8.21 and a beta of 3.05. The stock has a 50 day moving average of $11.19 and a 200-day moving average of $11.39.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The business 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%. On average, analysts expect that Redwire Corporation will post -0.68 EPS for the current fiscal year.

Redwire Company 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.