29,065 Shares in Redwire Corporation $RDW Acquired by Connective Capital Management LLC

Key Points

• Connective Capital Management LLC has acquired a new stake in Redwire Corporation, purchasing 29,065 shares valued at approximately $241,000 during the first quarter.
• Redwire reported a quarterly loss of ($0.39) earnings per share, missing analysts' expectations, and had revenue of $61.76 million, which was also below forecast.
• Despite recent losses, Redwire has received a consensus rating of "Moderate Buy" from analysts, with a target price expectation averaging $18.07.

Connective Capital Management LLC bought a new stake in shares of Redwire Corporation (NYSE:RDW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 29,065 shares of the company's stock, valued at approximately $241,000.

Several other hedge funds also recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Redwire in the 4th quarter worth approximately $33,000. KLP Kapitalforvaltning AS bought a new stake in shares of Redwire in the 1st quarter worth approximately $42,000. FNY Investment Advisers LLC bought a new stake in shares of Redwire in the 1st quarter worth approximately $47,000. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 6,217 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Redwire by 656.7% during the 1st quarter. New York State Common Retirement Fund now owns 8,066 shares of the company's stock valued at $67,000 after acquiring an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company's stock.

Redwire Trading Down 3.2%

Shares of RDW traded down $0.30 during midday trading on Friday, hitting $8.91. The stock had a trading volume of 3,060,702 shares, compared to its average volume of 5,223,439. Redwire Corporation has a fifty-two week low of $5.67 and a fifty-two week high of $26.66. The business has a 50-day simple moving average of $13.64 and a two-hundred day simple moving average of $13.28. The firm has a market cap of $1.28 billion, a P/E ratio of -2.74 and a beta of 2.52. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21.

Redwire (NYSE:RDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate 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. As a group, equities analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Wall Street Zen downgraded Redwire from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Roth Capital reiterated a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. B. Riley cut their price objective on Redwire from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $22.00 price objective (down previously from $26.00) on shares of Redwire in a research report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.07.

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.