PFG Advisors Purchases Shares of 17,423 Redwire Corporation (NYSE:RDW)

Key Points

• PFG Advisors has acquired a new stake in Redwire Corporation, purchasing 17,423 shares valued at approximately $144,000 during the first quarter.
• Institutional ownership of Redwire stands at 8.10%, with notable increases in holdings from firms like Vanguard Group, Barclays PLC, and Federated Hermes Inc..
• Analysts have given Redwire an average rating of "Moderate Buy" with a target price of $19.61, indicating positive market expectations despite recent earnings meeting consensus estimates.

PFG Advisors purchased a new stake in Redwire Corporation (NYSE:RDW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,423 shares of the company's stock, valued at approximately $144,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Redwire by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock worth $21,573,000 after purchasing an additional 101,620 shares during the last quarter. Barclays PLC grew its holdings in shares of Redwire by 6.5% during the fourth quarter. Barclays PLC now owns 1,258,366 shares of the company's stock worth $20,713,000 after purchasing an additional 77,228 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock worth $8,202,000 after purchasing an additional 310,769 shares during the last quarter. LBP AM SA grew its holdings in shares of 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 purchasing an additional 98,616 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Redwire by 22.4% during the fourth quarter. Renaissance Technologies LLC now owns 324,200 shares of the company's stock worth $5,336,000 after purchasing an additional 59,400 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RDW. HC Wainwright reaffirmed a "buy" rating and set a $26.00 price objective on shares of Redwire in a report on Tuesday, June 24th. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Monday, May 12th. Canaccord Genuity Group raised their price objective on Redwire from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Truist Financial set a $16.00 price target on Redwire and gave the stock a "hold" rating in a report on Thursday, June 26th. Finally, Wall Street Zen raised Redwire from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Redwire has an average rating of "Moderate Buy" and an average target price of $19.61.

Redwire Stock Up 0.4%

NYSE RDW opened at $16.08 on Friday. Redwire Corporation has a 52-week low of $4.87 and a 52-week high of $26.66. The business's 50-day moving average price is $16.26 and its 200 day moving average price is $14.88. The firm has a market cap of $2.29 billion, a P/E ratio of -7.12 and a beta of 2.54.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $61.40 million during the quarter, compared to analysts' expectations of $74.54 million. As a group, analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current year.

About Redwire

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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