Swiss National Bank Takes Position in Redwire Corporation $RDW

Key Points

• Swiss National Bank purchased 51,600 shares of Redwire Corporation, valued at approximately $428,000, increasing its ownership to 0.07% of the company.
• Redwire reported a quarterly earnings loss of ($0.39) per share, significantly missing analysts' expectations of ($0.11), with a negative net margin of 71.95%.
• Several hedge funds have also taken new stakes in Redwire recently, indicating growing interest among institutional investors amid a consensus rating of "Moderate Buy" from analysts.

Swiss National Bank acquired a new stake in shares of Redwire Corporation (NYSE:RDW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,600 shares of the company's stock, valued at approximately $428,000. Swiss National Bank owned 0.07% of Redwire as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Redwire in the fourth quarter valued at $33,000. KLP Kapitalforvaltning AS bought a new position in Redwire in the first quarter valued at $42,000. FNY Investment Advisers LLC bought a new position in Redwire in the first quarter valued at $47,000. GAMMA Investing LLC increased its stake in Redwire by 69,077.8% in the first quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock valued at $52,000 after acquiring an additional 6,217 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Redwire by 1,172.5% in the first quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company's stock valued at $67,000 after acquiring an additional 7,469 shares during the last quarter. Institutional investors own 8.10% of the company's stock.

Redwire Trading Down 3.2%

Redwire stock traded down $0.30 during trading hours on Friday, reaching $8.91. The stock had a trading volume of 3,060,702 shares, compared to its average volume of 5,223,439. The stock has a market cap of $1.28 billion, a PE ratio of -2.74 and a beta of 2.52. Redwire Corporation has a 52 week low of $5.67 and a 52 week high of $26.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.11. The company has a fifty day simple moving average of $13.64 and a 200-day simple moving average of $13.28.

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

Analyst Ratings Changes

A number of research analysts recently commented on RDW shares. HC Wainwright reissued a "buy" rating and issued a $22.00 target price (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Roth Capital reissued a "buy" rating on shares of Redwire in a research note on Tuesday, June 24th. Bank of America started coverage on Redwire in a research note on Monday, August 18th. They issued an "underperform" rating and a $10.00 target price on the stock. Canaccord Genuity Group lowered their price target on shares of Redwire from $21.00 to $17.50 and set a "buy" rating for the company in a research note on Monday, August 11th. Finally, B. Riley lowered their price target 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. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.07.

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.