DNB Asset Management AS Increases Stock Holdings in Redwire Co. (NYSE:RDW)

DNB Asset Management AS boosted its stake in Redwire Co. (NYSE:RDW) by 23.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,094 shares of the company’s stock after acquiring an additional 7,538 shares during the period. DNB Asset Management AS’s holdings in Redwire were worth $280,000 as of its most recent SEC filing.

Separately, Vanguard Group Inc. increased its position in shares of Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after purchasing an additional 3,681 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

Insider Activity

In other Redwire news, Director Ae Red Holdings, Llc sold 24,883 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $7.10, for a total transaction of $176,669.30. Following the completion of the transaction, the director now directly owns 35,708,528 shares of the company’s stock, valued at approximately $253,530,548.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 238,732 shares of company stock worth $1,836,940. 2.60% of the stock is currently owned by corporate insiders.

Redwire Stock Performance

RDW traded up $0.02 on Wednesday, hitting $6.16. 19,981 shares of the company were exchanged, compared to its average volume of 323,009. Redwire Co. has a fifty-two week low of $2.35 and a fifty-two week high of $8.23. The firm has a market capitalization of $403.97 million, a P/E ratio of -8.53 and a beta of 1.97. The business’s fifty day moving average is $6.49 and its 200 day moving average is $4.70.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The company had revenue of $87.79 million for the quarter, compared to analysts’ expectations of $65.88 million. Analysts forecast that Redwire Co. will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on RDW shares. Alliance Global Partners lifted their price target on Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Longbow Research increased their price objective on Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Roth Mkm increased their price target on shares of Redwire from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a report on Monday, July 22nd. Finally, B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $8.00 in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.