71,489 Shares in Redwire Corporation $RDW Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new position in Redwire Corporation (NYSE:RDW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 71,489 shares of the company’s stock, valued at approximately $874,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after purchasing an additional 6,730,414 shares during the last quarter. State Street Corp raised its stake in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after buying an additional 1,786,038 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Redwire during the 2nd quarter valued at $16,583,000. UBS Group AG lifted its holdings in shares of 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 buying an additional 1,192,885 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Redwire by 231.0% in the 4th quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock worth $10,918,000 after buying an additional 1,002,504 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

Redwire Stock Performance

NYSE:RDW opened at $12.89 on Wednesday. The stock has a 50-day moving average price of $11.40 and a 200 day moving average price of $11.39. The stock has a market capitalization of $3.22 billion, a P/E ratio of -8.83 and a beta of 3.05. Redwire Corporation has a 12-month low of $4.87 and a 12-month 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.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. Equities research analysts forecast that Redwire Corporation will post -0.68 EPS for the current fiscal year.

Insider Activity

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the 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 sale, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RDW. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Canaccord Genuity Group increased their price objective on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a report on Sunday, August 9th. Cantor Fitzgerald boosted their target price 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, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Thursday, August 6th. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Redwire presently has a consensus rating of “Hold” and a consensus price target of $14.44.

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.