Bank of America Corp DE Boosts Stock Holdings in Redwire Co. (NYSE:RDW)

Bank of America Corp DE lifted its stake in shares of Redwire Co. (NYSE:RDW - Free Report) by 72.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,717 shares of the company's stock after acquiring an additional 16,715 shares during the period. Bank of America Corp DE owned approximately 0.06% of Redwire worth $654,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in Redwire by 165.7% in 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. EAM Global Investors LLC bought a new stake in Redwire in the fourth quarter worth $4,689,000. Andar Capital Management HK Ltd purchased a new position in shares of Redwire in the fourth quarter valued at about $3,621,000. EAM Investors LLC increased its position in shares of Redwire by 254.6% in the fourth quarter. EAM Investors LLC now owns 232,903 shares of the company's stock valued at $3,834,000 after acquiring an additional 167,219 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Redwire by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company's stock valued at $21,573,000 after acquiring an additional 101,620 shares during the period. 8.10% of the stock is owned by institutional investors.

Redwire Price Performance

NYSE:RDW traded down $0.72 during mid-day trading on Thursday, hitting $19.34. 1,919,061 shares of the company's stock were exchanged, compared to its average volume of 1,218,188. Redwire Co. has a one year low of $4.87 and a one year high of $26.66. The business has a fifty day moving average price of $12.42 and a 200 day moving average price of $14.39. The company has a market cap of $1.49 billion, a PE ratio of -15.98 and a beta of 2.53.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $61.40 million for the quarter, compared to the consensus estimate of $74.54 million. On average, equities analysts forecast that Redwire Co. will post -0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.