Neuberger Berman Group LLC Has $952,000 Stock Position in Redwire Corporation $RDW

Key Points

• Neuberger Berman Group LLC increased its stake in Redwire Corporation by 150% during Q1, now owning approximately $952,000 worth of shares.
• Redwire Corporation's stock recently opened at $8.97, with a market cap of $1.28 billion and significant challenges shown by a negative net margin of 71.95%.
• Analysts have varied opinions about Redwire's stock, with target prices ranging from $16 to $21, and an overall consensus rating of "Moderate Buy."

Neuberger Berman Group LLC grew its stake in shares of Redwire Corporation (NYSE:RDW - Free Report) by 150.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,840 shares of the company's stock after acquiring an additional 68,906 shares during the period. Neuberger Berman Group LLC owned 0.15% of Redwire worth $952,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Redwire in the fourth quarter valued at approximately $33,000. Summit Investment Advisors Inc. raised its position in shares of Redwire by 64.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after buying an additional 931 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Redwire in the first quarter valued at approximately $42,000. FNY Investment Advisers LLC acquired a new stake in shares of Redwire in the first quarter valued at approximately $47,000. Finally, GAMMA Investing LLC raised its position in shares of 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 buying an additional 6,217 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Redwire Price Performance

Shares of NYSE RDW traded down $0.2560 during midday trading on Wednesday, reaching $8.5840. 2,764,483 shares of the company were exchanged, compared to its average volume of 2,864,497. The stock's 50-day moving average price is $15.10 and its 200-day moving average price is $14.05. The stock has a market cap of $1.24 billion, a P/E ratio of -2.64 and a beta of 2.52. Redwire Corporation has a one year low of $5.67 and a one year high of $26.66. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21.

Redwire (NYSE:RDW - Get Free Report) last posted its 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). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%.The company had revenue of $61.76 million for the quarter, compared to the consensus estimate of $80.48 million. On average, sell-side analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RDW shares. Roth Capital reiterated a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. Canaccord Genuity Group dropped their price target on shares of Redwire from $21.00 to $17.50 and set a "buy" rating for the company in a research report on Monday, August 11th. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research note on Monday, May 12th. Wall Street Zen cut shares of Redwire from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Finally, Bank of America initiated coverage on shares of Redwire in a research note on Monday. They issued an "underperform" rating and a $10.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Redwire currently 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.