Kingswood Wealth Advisors LLC Buys New Stake in Redwire Corporation $RDW

Kingswood Wealth Advisors LLC bought a new stake in Redwire Corporation (NYSE:RDW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,575 shares of the company’s stock, valued at approximately $172,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in shares of Redwire in the second quarter valued at $54,000. KLP Kapitalforvaltning AS bought a new stake in shares of Redwire in the 1st quarter valued at approximately $42,000. FNY Investment Advisers LLC bought a new stake in shares of Redwire in the 1st quarter valued at approximately $47,000. GAMMA Investing LLC lifted its stake in shares of Redwire by 69,077.8% in the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company’s stock valued at $52,000 after purchasing an additional 6,217 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Redwire by 656.7% in the 1st quarter. New York State Common Retirement Fund now owns 8,066 shares of the company’s stock valued at $67,000 after purchasing an additional 7,000 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Trading Down 9.5%

Shares of NYSE RDW opened at $8.73 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $9.34 and a two-hundred day simple moving average of $12.15. The firm has a market cap of $1.26 billion, a PE ratio of -2.69 and a beta of 2.47. Redwire Corporation has a twelve month low of $6.61 and a twelve month high of $26.66.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RDW shares. Wall Street Zen lowered Redwire from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. B. Riley lowered their price objective on Redwire from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Roth Capital reaffirmed a “buy” rating on shares of Redwire in a research note on Tuesday, June 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Finally, Bank of America decreased their price target on Redwire from $10.00 to $9.00 and set an “underperform” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.93.

Insiders Place Their Bets

In other Redwire news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of Redwire stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

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.