Geode Capital Management LLC Buys 407,131 Shares of Redwire Corporation $RDW

Geode Capital Management LLC lifted its position in Redwire Corporation (NYSE:RDW) by 77.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 935,297 shares of the company’s stock after acquiring an additional 407,131 shares during the period. Geode Capital Management LLC owned 0.66% of Redwire worth $15,248,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in Redwire in the second quarter worth about $3,640,000. Canal Insurance CO bought a new position in Redwire in the 2nd quarter worth $3,260,000. Andar Capital Management HK Ltd bought a new position in Redwire in the 2nd quarter worth approximately $2,771,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Redwire during the first quarter valued at about $1,300,000. Institutional investors own 8.10% of the company’s stock.

Insider Transactions at Redwire

In other news, EVP Aaron Michael Futch bought 18,410 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $5.45 per share, with a total value of $100,334.50. Following the transaction, the executive vice president directly owned 88,704 shares in the company, valued at $483,436.80. The trade was a 26.19% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 56,065 shares of company stock valued at $330,047. Insiders own 2.60% of the company’s stock.

Redwire Price Performance

Redwire stock opened at $5.13 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. The company’s 50 day simple moving average is $7.61 and its 200-day simple moving average is $11.34. Redwire Corporation has a 1 year low of $4.87 and a 1 year high of $26.66. The company has a market capitalization of $846.39 million, a price-to-earnings ratio of -1.62 and a beta of 2.48.

Analyst Ratings Changes

RDW has been the subject of several recent analyst reports. Roth Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Redwire in a research note on Thursday, November 6th. Industrial Alliance Securities set a $9.00 price target on Redwire in a research report on Thursday, November 6th. Bank of America lowered their price objective on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 19th. Canaccord Genuity Group dropped their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 price objective (down from $26.00) on shares of Redwire in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Redwire has an average rating of “Hold” and a consensus target price of $13.88.

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.