Werlinich Asset Management LLC Takes $652,000 Position in Redwire Corporation $RDW

Werlinich Asset Management LLC acquired a new position in Redwire Corporation (NYSE:RDW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53,350 shares of the company’s stock, valued at approximately $652,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new stake in Redwire in the 1st quarter valued at approximately $28,000. KBC Group NV purchased a new position in shares of Redwire during the first quarter worth $29,000. Sunbelt Securities Inc. grew its stake in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares in the last quarter. CWM LLC grew its stake in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after buying an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Stock Up 0.1%

Redwire stock opened at $10.34 on Friday. Redwire Corporation has a twelve month low of $4.87 and a twelve month high of $26.64. The stock’s fifty day simple moving average is $10.78 and its 200-day simple moving average is $11.49. 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 firm has a market capitalization of $2.58 billion, a P/E ratio of -7.08 and a beta of 3.08.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction dated 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 of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RDW. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Canaccord Genuity Group boosted their price target 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. Bank of America increased their price target on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Redwire presently has a consensus rating of “Hold” and an average price target of $14.69.

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.