630,957 Shares in Redwire Corporation $RDW Acquired by Tidal Investments LLC

Tidal Investments LLC acquired a new stake in Redwire Corporation (NYSE:RDW) during the second quarter, Holdings Channel reports. The fund acquired 630,957 shares of the company’s stock, valued at approximately $7,717,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC purchased a new stake in shares of Redwire during the first quarter worth $28,000. KBC Group NV purchased a new position in shares of Redwire in the first quarter worth about $29,000. Sunbelt Securities Inc. boosted its position in Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after acquiring an additional 3,668 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Redwire by 3,662.5% during the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after acquiring an additional 3,516 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Price Performance

Redwire stock opened at $10.62 on Friday. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.66 billion, a P/E ratio of -7.28 and a beta of 3.08. The company has a 50-day moving average price of $10.68 and a 200 day moving average price of $11.57. Redwire Corporation has a 12-month low of $4.87 and a 12-month high of $26.64.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Sell-side analysts anticipate that Redwire Corporation will post -0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. Bank of America boosted their target price on Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, August 31st. Cantor Fitzgerald upped their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.69.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.