Connective Capital Management LLC Takes Position in Redwire Corporation $RDW

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 acquired a new stake in Redwire Corporation (NYSE:RDW - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 29,065 shares of the company's stock, valued at approximately $241,000.

A number of other large investors also recently modified their holdings of RDW. Jump Financial LLC bought a new position in Redwire in the 1st quarter valued at about $425,000. Quantbot Technologies LP boosted its position in shares of Redwire by 168.1% during the first quarter. Quantbot Technologies LP now owns 25,109 shares of the company's stock valued at $208,000 after buying an additional 15,742 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Redwire by 150.0% during the first quarter. Neuberger Berman Group LLC now owns 114,840 shares of the company's stock worth $952,000 after buying an additional 68,906 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Redwire by 11,475.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,794 shares of the company's stock valued at $164,000 after buying an additional 19,623 shares during the last quarter. Finally, Nuveen LLC bought a new position in Redwire during the 1st quarter valued at $761,000. 8.10% of the stock is currently owned by institutional investors.

Redwire Trading Up 4.4%

NYSE:RDW opened at $9.0850 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.31 billion, a PE ratio of -2.80 and a beta of 2.52. The firm's 50 day moving average is $14.46 and its 200 day moving average is $13.69. Redwire Corporation has a 12 month low of $5.67 and a 12 month high of $26.66.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RDW shares. Bank of America assumed coverage on shares of Redwire in a research note on Monday, August 18th. They issued an "underperform" rating and a $10.00 price objective for the company. B. Riley dropped their target price on shares of Redwire from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. HC Wainwright reissued a "buy" rating and set a $22.00 target price (down previously from $26.00) on shares of Redwire in a research report on Friday, August 8th. Canaccord Genuity Group dropped their target price on shares of Redwire from $21.00 to $17.50 and set a "buy" rating on the stock in a research report on Monday, August 11th. Finally, Roth Capital reissued a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock 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.

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