Ameriprise Financial Inc. Invests $1.40 Million in Redwire Co. (NYSE:RDW)

Ameriprise Financial Inc. acquired a new position in shares of Redwire Co. (NYSE:RDW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 84,959 shares of the company's stock, valued at approximately $1,398,000. Ameriprise Financial Inc. owned 0.13% of Redwire as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RDW. Vanguard Group Inc. raised its position in shares of Redwire by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after purchasing an additional 101,620 shares during the period. Barclays PLC raised its holdings in Redwire by 6.5% during the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company's stock worth $20,713,000 after buying an additional 77,228 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after buying an additional 310,769 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Redwire by 22.4% during the fourth quarter. Renaissance Technologies LLC now owns 324,200 shares of the company's stock valued at $5,336,000 after buying an additional 59,400 shares during the last quarter. Finally, EAM Global Investors LLC bought a new stake in shares of Redwire during the fourth quarter worth about $4,689,000. Institutional investors and hedge funds own 8.10% of the company's stock.

Redwire Stock Performance

Shares of Redwire stock traded up $2.21 during mid-day trading on Wednesday, hitting $17.05. 6,066,829 shares of the stock were exchanged, compared to its average volume of 1,145,951. The company has a 50-day simple moving average of $11.14 and a 200 day simple moving average of $14.10. Redwire Co. has a 12 month low of $4.87 and a 12 month high of $26.66. The company has a market capitalization of $1.31 billion, a P/E ratio of -14.09 and a beta of 2.46.

Redwire (NYSE:RDW - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $61.40 million for the quarter, compared to analysts' expectations of $74.54 million. Analysts predict that Redwire Co. will post -0.85 EPS for the current year.

Analyst Ratings Changes

RDW has been the topic of several recent research reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research report on Monday, May 12th. HC Wainwright reissued a "buy" rating and issued a $26.00 price objective on shares of Redwire in a research note on Wednesday, March 12th. B. Riley cut their target price on Redwire from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 price target on shares of Redwire in a report on Tuesday, March 11th. Finally, Wall Street Zen raised Redwire from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Redwire has a consensus rating of "Moderate Buy" and a consensus target price of $20.05.

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.