Register Financial Advisors LLC Makes New $3.64 Million Investment in Redwire Corporation $RDW

Key Points

• Register Financial Advisors LLC has made a new investment in Redwire Corporation, acquiring 223,303 shares valued at approximately $3.64 million, making it the 10th largest position in their portfolio.
• Redwire reported a quarterly earnings miss with an EPS of ($0.39), significantly lower than the expected ($0.11), and also saw its revenue fall short of analyst estimates.
• Following mixed analyst ratings, the consensus price target for Redwire's stock is $18.07, with recommendations varying from "strong sell" to "buy" across different firms.

Register Financial Advisors LLC purchased a new position in shares of Redwire Corporation (NYSE:RDW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 223,303 shares of the company's stock, valued at approximately $3,640,000. Redwire makes up approximately 1.6% of Register Financial Advisors LLC's portfolio, making the stock its 10th biggest position. Register Financial Advisors LLC owned about 0.16% of Redwire as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RDW. Ameriprise Financial Inc. acquired a new position in Redwire during the fourth quarter valued at approximately $1,398,000. BNP Paribas Financial Markets bought a new position in Redwire in the 4th quarter worth $234,000. Bank of America Corp DE raised its holdings in Redwire by 72.7% in the 4th quarter. Bank of America Corp DE now owns 39,717 shares of the company's stock worth $654,000 after acquiring an additional 16,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company's stock worth $212,000 after acquiring an additional 532 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in Redwire during the fourth quarter valued at about $339,000. 8.10% of the stock is owned by institutional investors.

Redwire Trading Down 3.9%

Shares of NYSE RDW opened at $8.99 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.29 billion, a PE ratio of -2.76 and a beta of 2.49. The company has a 50-day moving average of $10.67 and a two-hundred day moving average of $12.21. Redwire Corporation has a 1-year low of $6.38 and a 1-year high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The firm had revenue of $61.76 million for the quarter, compared to analyst estimates of $80.48 million. Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%. As a group, equities analysts expect that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RDW. Wall Street Zen cut Redwire from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Truist Financial set a $16.00 price target on Redwire and gave the stock a "hold" rating in a report on Thursday, June 26th. Roth Capital restated a "buy" rating on shares of Redwire in a research note on Tuesday, June 24th. Canaccord Genuity Group lowered their price objective on Redwire from $21.00 to $17.50 and set a "buy" rating on the stock in a research report on Monday, August 11th. Finally, Bank of America assumed coverage on shares of Redwire in a report on Monday, August 18th. They issued an "underperform" rating and a $10.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Redwire currently has an average rating of "Moderate Buy" and a consensus price target of $18.07.

Insider Transactions at Redwire

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

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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