EVR Research LP Purchases New Stake in Redwire Corporation $RDW

Key Points

• EVR Research LP has acquired a new stake in Redwire Corporation valued at approximately $397,000, consisting of 47,919 shares, making it the firm's 29th largest holding.
• Recent analyst reports show a mix of ratings for Redwire, with seven analysts rating it as a Buy, while the average target price stands at $18.07.
• Redwire reported a quarterly loss of ($0.39) earnings per share, missing expectations, and revenue reached $61.76 million, below analyst estimates of $80.48 million.

EVR Research LP acquired a new position in shares of Redwire Corporation (NYSE:RDW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,919 shares of the company's stock, valued at approximately $397,000. Redwire comprises approximately 0.1% of EVR Research LP's holdings, making the stock its 29th largest holding. EVR Research LP owned about 0.06% of Redwire as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LBP AM SA increased its holdings in Redwire by 24.8% during the first quarter. LBP AM SA now owns 496,230 shares of the company's stock worth $4,114,000 after buying an additional 98,616 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of Redwire by 192.7% in the first quarter. Wolverine Asset Management LLC now owns 45,508 shares of the company's stock valued at $377,000 after purchasing an additional 29,962 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Redwire in the first quarter valued at approximately $1,300,000. Neuberger Berman Group LLC raised its position in shares of Redwire by 150.0% in the first quarter. Neuberger Berman Group LLC now owns 114,840 shares of the company's stock valued at $952,000 after purchasing an additional 68,906 shares during the period. Finally, PFG Advisors bought a new stake in shares of Redwire in the first quarter valued at approximately $144,000. Hedge funds and other institutional investors own 8.10% of the company's stock.

Analysts Set New Price Targets

RDW has been the topic of several research reports. Wall Street Zen lowered shares of Redwire from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research report on Monday, May 12th. B. Riley lowered their price target 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 reaffirmed a "buy" rating and set a $22.00 price objective (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Redwire in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.07.

Redwire Price Performance

RDW stock traded down $0.30 during midday trading on Friday, reaching $8.91. The company had a trading volume of 3,060,702 shares, compared to its average volume of 5,223,439. The company has a market capitalization of $1.28 billion, a P/E ratio of -2.74 and a beta of 2.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.11. Redwire Corporation has a 1 year low of $5.67 and a 1 year high of $26.66. The firm has a 50-day moving average price of $13.64 and a 200-day moving average price of $13.28.

Redwire (NYSE:RDW - Get Free Report) last announced 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 the consensus estimate of $80.48 million. Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%. On average, research analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

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.