Wealthfront Advisers LLC Invests $529,000 in Redwire Corporation $RDW

Wealthfront Advisers LLC purchased a new stake in shares of Redwire Corporation (NYSE:RDW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 43,293 shares of the company’s stock, valued at approximately $529,000.

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

Redwire Stock Up 1.9%

Shares of RDW opened at $11.99 on Friday. The company’s 50-day simple moving average is $11.19 and its 200-day simple moving average is $11.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. Redwire Corporation has a 1 year low of $4.87 and a 1 year high of $26.64. The stock has a market capitalization of $3.00 billion, a PE ratio of -8.21 and a beta of 3.05.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The firm 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%. Analysts forecast that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on RDW. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Canaccord Genuity Group lifted their target price on Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Cantor Fitzgerald upped their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Redwire currently has an average rating of “Hold” and a consensus price target of $14.44.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction 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 represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by insiders.

About Redwire

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.