JPMorgan Chase & Co. Boosts Stock Position in Redwire Corporation $RDW

Key Points

• JPMorgan Chase & Co. boosted its stake in Redwire (NYSE:RDW) by 2,556% in Q3 to 577,271 shares, representing about a 0.35% ownership worth roughly $5.19 million.
• Heavy insider selling: a director sold 2.5 million shares for $23.6 million on March 25, and insiders have sold 51,587,273 shares (~$557 million) in the past 90 days, leaving insiders with about 2.60% ownership.
• Mixed analyst view but a moderate buy consensus: eight analysts rate RDW a Buy, two Hold and two Sell, yielding a consensus rating of "Moderate Buy" and a $13.89 average price target despite some recent price-target cuts and a recent earnings miss.

JPMorgan Chase & Co. increased its holdings in shares of Redwire Corporation (NYSE:RDW - Free Report) by 2,556.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 577,271 shares of the company's stock after buying an additional 555,536 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Redwire worth $5,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in RDW. Abich Financial Wealth Management LLC purchased a new stake in Redwire in the 3rd quarter worth $41,000. Russell Investments Group Ltd. lifted its holdings in Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company's stock valued at $44,000 after purchasing an additional 3,672 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Redwire by 440.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company's stock valued at $60,000 after purchasing an additional 5,395 shares during the period. Strs Ohio purchased a new stake in shares of Redwire during the first quarter worth about $69,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Redwire during the third quarter worth about $77,000. Institutional investors and hedge funds own 8.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald decreased their price target on shares of Redwire from $20.00 to $9.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 10th. Jefferies Financial Group cut their price objective on Redwire from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Zacks Research upgraded Redwire from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 11th. Roth Mkm reaffirmed a "buy" rating and issued a $20.00 price target on shares of Redwire in a research note on Wednesday, January 28th. Finally, Canaccord Genuity Group boosted their price target on Redwire from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Redwire currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.89.

Redwire Stock Performance

NYSE:RDW opened at $9.06 on Thursday. The company has a market cap of $1.74 billion, a P/E ratio of -3.82 and a beta of 2.49. Redwire Corporation has a twelve month low of $4.87 and a twelve month high of $22.25. The company's 50-day moving average price is $9.56 and its 200-day moving average price is $8.54. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.19). Redwire had a negative net margin of 67.55% and a negative return on equity of 13.04%. The business had revenue of $108.79 million for the quarter, compared to analysts' expectations of $98.78 million. On average, sell-side analysts forecast that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 2,500,000 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $9.45, for a total value of $23,625,000.00. Following the completion of the sale, the director owned 33,635,217 shares of the company's stock, valued at approximately $317,852,800.65. This trade represents a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 51,587,273 shares of company stock valued at $557,353,017 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company's offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire's portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.

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