Redwire (NYSE:RDW) Downgraded by Zacks Investment Research to “Sell”

Redwire (NYSE:RDWGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Redwire Corporation provides space solutions and components for the space economy, with valuable IP for solar power generation and in-space 3D printing and manufacturing. Redwire Corporation, formerly known as Genesis Park Acquisition Corp., is based in JACKSONVILLE, Fla. “

Shares of RDW opened at $6.02 on Friday. Redwire has a twelve month low of $4.25 and a twelve month high of $16.98. The company’s fifty day simple moving average is $6.37 and its 200-day simple moving average is $7.35. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.06.

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Redwire by 514.3% in the 4th quarter. Bank of America Corp DE now owns 5,400 shares of the company’s stock valued at $36,000 after buying an additional 4,521 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in Redwire by 53.8% in the 4th quarter. Wolverine Asset Management LLC now owns 12,691 shares of the company’s stock worth $85,000 after purchasing an additional 4,439 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Redwire in the 4th quarter worth approximately $101,000. Belvedere Trading LLC acquired a new stake in Redwire in the 1st quarter worth approximately $103,000. Finally, Squarepoint Ops LLC acquired a new stake in Redwire in the 3rd quarter worth approximately $115,000. Institutional investors and hedge funds own 14.92% of the company’s stock.

Redwire Company Profile (Get Rating)

Redwire Corporation, a space infrastructure company, develops, manufactures, and sells mission critical space solutions and components for national security, civil, and commercial markets in the United States and internationally. It offers space commercialization, digitally engineered spacecraft, and space domain awareness and resiliency technology solutions; advanced sensors and components; and on-orbit servicing, assembly, and manufacturing solutions.

Further Reading

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