Goldman Sachs Group Inc. Has $2.95 Million Stock Holdings in Redwire Corporation $RDW

Goldman Sachs Group Inc. raised its holdings in shares of Redwire Corporation (NYSE:RDW) by 352.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,265 shares of the company’s stock after purchasing an additional 276,814 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.25% of Redwire worth $2,945,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. LBP AM SA lifted its holdings in Redwire by 24.8% during the 1st quarter. LBP AM SA now owns 496,230 shares of the company’s stock valued at $4,114,000 after purchasing an additional 98,616 shares during the last quarter. Wolverine Asset Management LLC increased its position in Redwire by 192.7% during the 1st quarter. Wolverine Asset Management LLC now owns 45,508 shares of the company’s stock worth $377,000 after buying an additional 29,962 shares during the period. Jump Financial LLC bought a new position in Redwire during the 1st quarter worth $425,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Redwire during the 1st quarter worth $1,300,000. Finally, Nuveen LLC bought a new position in Redwire during the 1st quarter worth $761,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Insider Transactions at Redwire

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Redwire Stock Performance

NYSE:RDW opened at $7.94 on Friday. The stock’s 50-day moving average is $11.39 and its 200-day moving average is $12.31. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.14 billion, a P/E ratio of -2.44 and a beta of 2.49. Redwire Corporation has a 1-year low of $6.30 and a 1-year high of $26.66.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The firm had revenue of $61.76 million for the quarter, compared to the consensus estimate of $80.48 million. Redwire had a negative net margin of 71.95% and a negative return on equity of 32.67%. Equities research analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Roth Capital reiterated a “buy” rating on shares of Redwire in a research report on Tuesday, June 24th. Canaccord Genuity Group lowered their price objective on Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research report on Monday, August 11th. Wall Street Zen cut Redwire from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective (down previously from $26.00) on shares of Redwire in a research report on Friday, August 8th. Finally, B. Riley decreased their price target on Redwire from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Redwire Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.