Renaissance Technologies LLC Sells 85,983 Shares of Redwire Co. (NYSE:RDW)

Renaissance Technologies LLC lowered its position in Redwire Co. (NYSE:RDW) by 21.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 318,600 shares of the company’s stock after selling 85,983 shares during the quarter. Renaissance Technologies LLC’s holdings in Redwire were worth $2,284,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of RDW. Rhumbline Advisers lifted its position in shares of Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after acquiring an additional 12,703 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Redwire by 496.1% during the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after buying an additional 59,372 shares during the last quarter. SG Americas Securities LLC lifted its stake in Redwire by 17.2% in the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after purchasing an additional 2,296 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Redwire by 23.9% in the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after purchasing an additional 7,538 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Redwire by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after buying an additional 3,681 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Stock Performance

Shares of Redwire stock opened at $6.41 on Wednesday. The stock has a market cap of $420.36 million, a price-to-earnings ratio of -9.54 and a beta of 1.96. The stock has a 50 day moving average price of $6.42 and a 200-day moving average price of $5.60. Redwire Co. has a one year low of $2.35 and a one year high of $8.23.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to the consensus estimate of $66.86 million. Sell-side analysts predict that Redwire Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 56,516 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $7.64, for a total value of $431,782.24. Following the completion of the sale, the director now owns 36,018,155 shares of the company’s stock, valued at $275,178,704.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 238,732 shares of company stock worth $1,836,940. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RDW shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research note on Monday. B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, August 9th. Finally, Alliance Global Partners increased their price objective on shares of Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.65.

Redwire Profile

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.