Ethic Inc. Takes $180,000 Position in Redwire Corporation $RDW

Ethic Inc. purchased a new position in shares of Redwire Corporation (NYSE:RDW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,168 shares of the company’s stock, valued at approximately $180,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RDW. Ameritas Advisory Services LLC purchased a new position in Redwire during the 2nd quarter worth $54,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Redwire in the first quarter valued at about $42,000. New York State Common Retirement Fund increased its stake in shares of Redwire by 656.7% during the first quarter. New York State Common Retirement Fund now owns 8,066 shares of the company’s stock worth $67,000 after acquiring an additional 7,000 shares during the period. SBI Securities Co. Ltd. raised its holdings in Redwire by 1,172.5% during the first quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company’s stock worth $67,000 after purchasing an additional 7,469 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Redwire in the first quarter valued at about $69,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RDW. Bank of America dropped their target price on Redwire from $10.00 to $9.00 and set an “underperform” rating on the stock in a research report on Friday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective (down previously from $26.00) on shares of Redwire in a report on Friday, August 8th. B. Riley reduced their target price on Redwire from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 8th. Canaccord Genuity Group lowered their price target 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 reiterated a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Insiders Place Their Bets

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Redwire Price Performance

RDW stock opened at $7.87 on Friday. Redwire Corporation has a 1 year low of $6.61 and a 1 year high of $26.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.46. The stock’s 50 day moving average price is $8.76 and its 200 day moving average price is $12.07. The firm has a market cap of $1.13 billion, a P/E ratio of -2.42 and a beta of 2.47.

Redwire (NYSE:RDW) last released its quarterly 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). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%.The company had revenue of $61.76 million for the quarter, compared to analysts’ expectations of $80.48 million. On average, sell-side analysts expect that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

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.