Chris Edmunds Buys 5,500 Shares of Redwire (NYSE:RDW) Stock

Key Points

• Chris Edmunds, Redwire's CAO, purchased 5,500 shares at $5.46 on Nov. 14, raising his stake to 107,441 shares (a 5.4% increase), according to an SEC filing.
• Shares fell about 2.8% to $5.41 on heavy volume and are trading near their one-year low ($5.31); the company has a market cap of $778.5M, a negative P/E (-1.71), and 50-/200-day moving averages of $8.33 and $11.84 respectively.
• Analyst sentiment is mixed — the consensus rating is "Hold" with a $14.25 average target after several firms cut price objectives, while institutional ownership remains low (~8.1%).

Redwire Corporation (NYSE:RDW - Get Free Report) CAO Chris Edmunds acquired 5,500 shares of the stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $5.46 per share, with a total value of $30,030.00. Following the purchase, the chief accounting officer owned 107,441 shares of the company's stock, valued at approximately $586,627.86. This trade represents a 5.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Redwire Stock Down 2.8%

Shares of Redwire stock traded down $0.16 during trading hours on Friday, reaching $5.41. 4,911,921 shares of the company were exchanged, compared to its average volume of 3,956,431. Redwire Corporation has a 1 year low of $5.31 and a 1 year high of $26.66. The firm has a market cap of $778.54 million, a PE ratio of -1.71 and a beta of 2.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.11 and a current ratio of 1.41. The stock's fifty day moving average is $8.33 and its 200 day moving average is $11.84.

Analyst Ratings Changes

RDW has been the topic of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $22.00 price objective (down previously from $26.00) on shares of Redwire in a report on Friday, August 8th. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Thursday, November 6th. B. Riley dropped their price objective on shares of 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 reissued a "buy" rating and set a $15.00 price target on shares of Redwire in a research note on Thursday, November 6th. Finally, Canaccord Genuity Group lowered their price target on Redwire from $17.50 to $11.00 and set a "buy" rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.25.

Institutional Trading of Redwire

Large investors have recently modified their holdings of the company. Abich Financial Wealth Management LLC bought a new position in Redwire in the 3rd quarter worth $41,000. KLP Kapitalforvaltning AS acquired a new stake in Redwire in the 1st quarter valued at approximately $42,000. Russell Investments Group Ltd. increased its position in Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company's stock worth $44,000 after buying an additional 3,672 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Redwire in the second quarter worth $54,000. Finally, New York State Common Retirement Fund increased its position in Redwire by 656.7% during the first quarter. New York State Common Retirement Fund now owns 8,066 shares of the company's stock worth $67,000 after acquiring an additional 7,000 shares during the period. 8.10% of the stock is owned by institutional investors.

Redwire Company 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.

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