Hennion & Walsh Asset Management Inc. Acquires Shares of 18,898 Redwire Co. (NYSE:RDW)

Hennion & Walsh Asset Management Inc. bought a new position in shares of Redwire Co. (NYSE:RDW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,898 shares of the company's stock, valued at approximately $157,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDW. Quarry LP acquired a new stake in Redwire in the fourth quarter valued at $33,000. Summit Investment Advisors Inc. raised its position 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 worth $39,000 after acquiring an additional 931 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Redwire during the fourth quarter worth approximately $63,000. Jones Financial Companies Lllp lifted its stake in Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after purchasing an additional 1,372 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 6,217 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

Redwire Stock Performance

Redwire stock traded down $1.78 during midday trading on Tuesday, hitting $18.19. 3,832,746 shares of the company's stock were exchanged, compared to its average volume of 2,012,541. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -15.03 and a beta of 2.53. Redwire Co. has a 12-month low of $4.87 and a 12-month high of $26.66. The firm's 50 day simple moving average is $11.74 and its 200 day simple moving average is $14.28.

Redwire (NYSE:RDW - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $61.40 million for the quarter, compared to analysts' expectations of $74.54 million. On average, equities research analysts forecast that Redwire Co. will post -0.85 EPS 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.