Empowered Funds LLC Purchases New Position in Redwire Corporation $RDW

Empowered Funds LLC acquired a new stake in Redwire Corporation (NYSE:RDW) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 312,855 shares of the company’s stock, valued at approximately $3,826,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Redwire in the second quarter worth $196,514,000. Bank of America Corp DE increased its holdings in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares in the last quarter. State Street Corp raised its position in Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after buying an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. raised its position in Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after buying an additional 91,045 shares during the last quarter. Finally, UBS Group AG lifted its stake in Redwire by 140.8% during the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares during the period. Institutional investors own 8.10% of the company’s stock.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

RDW has been the subject of a number of research analyst reports. Cantor Fitzgerald lifted their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a report on Sunday, August 9th. Bank of America lifted their target price on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday. Finally, Canaccord Genuity Group boosted their target price 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Redwire currently has an average rating of “Hold” and a consensus price target of $14.69.

Redwire Price Performance

NYSE RDW opened at $10.26 on Wednesday. Redwire Corporation has a 52 week low of $4.87 and a 52 week high of $26.64. The firm has a market capitalization of $2.56 billion, a P/E ratio of -7.03 and a beta of 3.08. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $10.80 and a 200-day moving average price of $11.46.

Redwire (NYSE:RDW) last posted its quarterly earnings data 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 company had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Equities research analysts anticipate that Redwire Corporation will post -0.68 earnings per share 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.