DNB Asset Management AS Acquires New Shares in Redwire Corporation $RDW

DNB Asset Management AS acquired a new stake in shares of Redwire Corporation (NYSE:RDW) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 304,640 shares of the company’s stock, valued at approximately $2,315,000.

Several other large investors have also bought and sold shares of RDW. CWM LLC raised its position in 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 purchasing an additional 3,864 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Redwire during the 3rd quarter worth $41,000. Russell Investments Group Ltd. raised its position in Redwire by 308.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after purchasing an additional 3,672 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Redwire by 440.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock worth $60,000 after purchasing an additional 5,395 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

Redwire Stock Performance

Shares of Redwire stock opened at $14.77 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $8.95. Redwire Corporation has a 1-year low of $4.87 and a 1-year high of $22.25. The company has a market cap of $2.83 billion, a P/E ratio of -5.51 and a beta of 2.41.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. The business’s revenue was up 57.9% on a year-over-year basis. As a group, analysts anticipate that Redwire Corporation will post -0.67 EPS for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the completion of the sale, the director directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. This trade represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 23,327,795 shares of company stock worth $228,806,188. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDW. Jefferies Financial Group reaffirmed a “buy” rating and set a $13.00 target price on shares of Redwire in a research report on Sunday, May 10th. Canaccord Genuity Group raised their target price on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Truist Financial raised Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.22.

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.