Canal Insurance CO Has $2.70 Million Stock Holdings in Redwire Corporation $RDW

Canal Insurance CO boosted its stake in shares of Redwire Corporation (NYSE:RDW) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the company’s stock after acquiring an additional 100,000 shares during the period. Canal Insurance CO owned 0.21% of Redwire worth $2,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in Redwire in the second quarter worth about $54,000. Strs Ohio purchased a new position in Redwire during the first quarter valued at approximately $69,000. State of Alaska Department of Revenue bought a new position in shares of Redwire in the third quarter worth $77,000. Tower Research Capital LLC TRC increased its stake in Redwire by 32.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after acquiring an additional 1,533 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in Redwire by 71.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,724 shares of the company’s stock valued at $126,000 after purchasing an additional 3,213 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Redwire

In related news, CAO Chris Edmunds purchased 5,500 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $5.46 per share, for a total transaction of $30,030.00. Following the acquisition, the chief accounting officer owned 107,441 shares of the company’s stock, valued at $586,627.86. The trade was a 5.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ae Red Holdings, Llc sold 2,871,715 shares of Redwire stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $10.77, for a total value of $30,928,370.55. Following the completion of the transaction, the director owned 75,860,420 shares in the company, valued at $817,016,723.40. This trade represents a 3.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 56,065 shares of company stock worth $330,047 and have sold 9,633,926 shares worth $101,790,034. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RDW has been the topic of a number of recent research reports. Cantor Fitzgerald reduced their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Canaccord Genuity Group lowered their price objective on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Wednesday, October 8th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.13.

Redwire Price Performance

Shares of Redwire stock opened at $10.11 on Wednesday. The stock has a 50 day moving average of $7.08 and a 200 day moving average of $9.59. Redwire Corporation has a 12 month low of $4.87 and a 12 month high of $26.66. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.67 billion, a PE ratio of -3.19 and a beta of 2.44.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). The company had revenue of $103.43 million for the quarter, compared to analysts’ expectations of $132.05 million. Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. On average, research analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.