Lbp Am Sa Has $7.43 Million Position in Redwire Corporation $RDW

Key Points

• Lbp Am Sa reduced its stake in Redwire Corporation by 8.1%, ending the quarter with 455,907 shares valued at approximately $7.43 million.
• Redwire posted a wider-than-expected loss of ($0.39) earnings per share for the last quarter, with revenue reported at $61.76 million, significantly lower than analyst estimates.
• The stock's average target price among analysts is $18.07, with seven analysts rating it as a "Buy" and one as a "Sell."

Lbp Am Sa lowered its holdings in shares of Redwire Corporation (NYSE:RDW - Free Report) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 455,907 shares of the company's stock after selling 40,323 shares during the quarter. Lbp Am Sa owned 0.32% of Redwire worth $7,431,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock worth $2,945,000 after purchasing an additional 276,814 shares during the period. Wolverine Asset Management LLC raised its position in Redwire by 192.7% in the 1st quarter. Wolverine Asset Management LLC now owns 45,508 shares of the company's stock valued at $377,000 after buying an additional 29,962 shares during the last quarter. Jump Financial LLC acquired a new stake in Redwire in the 1st quarter valued at approximately $425,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Redwire in the 1st quarter valued at approximately $1,300,000. Finally, Register Financial Advisors LLC acquired a new stake in Redwire in the 2nd quarter valued at approximately $3,640,000. Institutional investors and hedge funds own 8.10% of the company's stock.

Redwire Stock Up 2.1%

RDW stock opened at $9.18 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $9.99 and a two-hundred day moving average price of $12.18. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -2.82 and a beta of 2.47. Redwire Corporation has a twelve month low of $6.39 and a twelve month high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $61.76 million during the quarter, compared to the consensus estimate of $80.48 million. Redwire had a negative net margin of 71.95% and a negative return on equity of 32.67%. Analysts anticipate that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insider Activity at Redwire

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of Redwire stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. B. Riley dropped their target price on Redwire from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Bank of America assumed coverage on Redwire in a research report on Monday, August 18th. They issued an "underperform" rating and a $10.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $22.00 target price (down previously from $26.00) on shares of Redwire in a research report on Friday, August 8th. Truist Financial set a $16.00 target price on Redwire and gave the company a "hold" rating in a research report on Thursday, June 26th. Finally, Wall Street Zen lowered Redwire from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average 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.

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