Allianz Asset Management GmbH Invests $562,000 in Redwire Corporation $RDW

Allianz Asset Management GmbH purchased a new stake in shares of Redwire Corporation (NYSE:RDW) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 34,475 shares of the company’s stock, valued at approximately $562,000.

Other large investors have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. lifted its position in shares of Redwire by 36.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 74,497 shares of the company’s stock worth $1,214,000 after buying an additional 20,021 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Redwire by 10.4% in the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company’s stock valued at $302,000 after purchasing an additional 1,751 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Redwire during the 2nd quarter valued at about $172,000. KLP Kapitalforvaltning AS increased its stake in Redwire by 149.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,700 shares of the company’s stock valued at $207,000 after buying an additional 7,600 shares during the period. Finally, Tcfg Wealth Management LLC increased its stake in Redwire by 25.9% during the 2nd quarter. Tcfg Wealth Management LLC now owns 25,265 shares of the company’s stock valued at $412,000 after buying an additional 5,200 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RDW has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $22.00 target price (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Wall Street Zen cut shares of Redwire from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Truist Financial lowered their target price on shares of Redwire from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Canaccord Genuity Group lowered their target price on shares of Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.21.

Redwire Stock Performance

Redwire stock opened at $8.25 on Tuesday. The firm’s 50 day simple moving average is $8.84 and its 200-day simple moving average is $12.13. The company has a market cap of $1.19 billion, a P/E ratio of -2.54 and a beta of 2.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.11. Redwire Corporation has a fifty-two week low of $6.61 and a fifty-two week high of $26.66.

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

Insider Buying and Selling at Redwire

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of Redwire stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

About Redwire

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.