Redwire Corporation $RDW Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Redwire Corporation (NYSE:RDW) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 12,125,594 shares of the company’s stock, valued at approximately $126,591,000.

Several other large investors have also added to or reduced their stakes in RDW. BlackRock Inc. bought a new stake in Redwire in the second quarter worth approximately $196,514,000. Van ECK Associates Corp lifted its stake in Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after buying an additional 4,341,424 shares during the period. Bank of America Corp DE lifted its stake in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Redwire during the 2nd quarter worth approximately $16,583,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Redwire during the 2nd quarter worth approximately $11,186,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total value of $10,539,792.90. Following the transaction, the director directly owned 147,984 shares of the company’s stock, valued at approximately $1,678,138.56. This trade represents a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

RDW has been the subject of several recent analyst reports. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research report on Sunday, August 9th. Piper Sandler assumed coverage on shares of Redwire in a research report on Thursday, October 15th. They set a “neutral” rating and a $11.00 target price on the stock. Bank of America increased their target price on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Cantor Fitzgerald raised their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Guggenheim initiated coverage on shares of Redwire in a report on Monday, September 14th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Redwire presently has a consensus rating of “Hold” and a consensus target price of $14.28.

Redwire Trading Down 8.8%

Shares of Redwire stock opened at $8.35 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. Redwire Corporation has a 52 week low of $4.87 and a 52 week high of $26.64. The stock has a 50 day moving average price of $10.21 and a two-hundred day moving average price of $11.09. The stock has a market capitalization of $2.09 billion, a PE ratio of -5.72 and a beta of 3.12.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. The company had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. As a group, equities analysts anticipate that Redwire Corporation will post -0.73 earnings per share for the current fiscal year.

About Redwire

Redwire Corporation (NYSE: RDW) is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its capabilities support spacecraft, space stations, national security missions, and other applications across the space economy.

The company’s offerings include deployable solar arrays, spacecraft platforms, avionics, sensors, communications systems, digital engineering and mission-support services. Redwire also develops robotic systems, in-space manufacturing technologies, payloads, and other solutions designed to enable spacecraft operations and the production of materials in orbit.

Redwire was formed in 2020 through the combination of several space technology businesses backed by AE Industrial Partners and became a publicly traded company in 2021.