Atria Wealth Solutions Inc. Buys Shares of 54,476 Redwire Corporation $RDW

Key Points

• Atria Wealth Solutions Inc. acquired 54,476 shares of Redwire Corporation (NYSE:RDW), valued at approximately $452,000, representing about 0.07% ownership of the company.
• Numerous institutional investors increased their stakes in Redwire, with Russell Investments Group Ltd. raising its position by 3,504.1% during the fourth quarter.
• Analysts have a consensus rating of "Moderate Buy" for Redwire, with a target price of $19.42, even as the company's recent earnings report showed a loss of ($0.39) EPS.

Atria Wealth Solutions Inc. bought a new position in shares of Redwire Corporation (NYSE:RDW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 54,476 shares of the company's stock, valued at approximately $452,000. Atria Wealth Solutions Inc. owned 0.07% of Redwire as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RDW. Quarry LP acquired a new position in shares of Redwire during the fourth quarter worth about $33,000. Summit Investment Advisors Inc. raised its holdings in shares of Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after buying an additional 931 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Redwire during the 1st quarter worth approximately $42,000. FNY Investment Advisers LLC acquired a new position in Redwire during the 1st quarter worth approximately $47,000. Finally, GAMMA Investing LLC boosted its holdings in Redwire by 69,077.8% in the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock worth $52,000 after acquiring an additional 6,217 shares during the period. Institutional investors and hedge funds own 8.10% of the company's stock.

Redwire Stock Down 3.0%

Shares of RDW traded down $0.28 during midday trading on Tuesday, hitting $8.77. The company had a trading volume of 1,110,164 shares, compared to its average volume of 2,846,224. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -2.72 and a beta of 2.52. The company's 50 day moving average price is $15.29 and its 200 day moving average price is $14.08. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21. Redwire Corporation has a 52 week low of $5.67 and a 52 week high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) 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 analyst estimates of $80.48 million. On average, equities research analysts predict that Redwire Corporation will post -0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RDW. Bank of America assumed coverage on shares of Redwire in a research note on Monday. They set an "underperform" rating and a $10.00 price objective on the stock. Roth Capital reaffirmed a "buy" rating on shares of Redwire in a report on Tuesday, June 24th. 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. Truist Financial set a $16.00 target price on Redwire and gave the company a "hold" rating in a research note on Thursday, June 26th. Finally, Canaccord Genuity Group cut their price target on Redwire from $21.00 to $17.50 and set a "buy" rating on the stock in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.