Tema ETFs LLC Buys 619,958 Shares of Redwire Corporation $RDW

Key Points

• Tema ETFs LLC sharply increased its Redwire stake by purchasing 619,958 shares in the second quarter, bringing its holdings to 621,162 shares valued at approximately $7.6 million. Institutional investors collectively own 8.10% of RDW.
• Analyst sentiment is mixed: Redwire has a consensus “Hold” rating and an average price target of $14.44, despite recent Buy and Strong Buy ratings and price targets as high as $15.00.
• Redwire reported better-than-expected quarterly results, with a loss of $0.09 per share versus estimates of $0.16 and revenue of $117.07 million versus the $107.10 million consensus. Shares opened at $13.52, while an insider separately sold about 1.07 million shares for nearly $23 million.

Tema ETFs LLC increased its stake in Redwire Corporation (NYSE:RDW - Free Report) by 51,491.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 621,162 shares of the company's stock after buying an additional 619,958 shares during the quarter. Tema ETFs LLC owned about 0.26% of Redwire worth $7,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RDW. Parallel Advisors LLC bought a new position in Redwire during the first quarter valued at $28,000. KBC Group NV bought a new stake in shares of Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. boosted its stake in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock worth $30,000 after purchasing an additional 3,396 shares during the period. CWM LLC grew its holdings in Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company's stock valued at $31,000 after purchasing an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company's stock valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RDW. Weiss Ratings reiterated a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Truist Financial raised Redwire to a "strong-buy" rating in a research report on Friday, May 1st. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a report on Thursday, August 6th. Cantor Fitzgerald lifted their target price on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Redwire currently has a consensus rating of "Hold" and an average target price of $14.44.

Redwire Trading Up 3.1%

Shares of NYSE RDW opened at $13.52 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The stock has a market capitalization of $3.23 billion, a P/E ratio of -9.26 and a beta of 3.05. Redwire Corporation has a 1-year low of $4.87 and a 1-year high of $26.64. The business has a fifty day moving average price of $11.93 and a 200 day moving average price of $11.36.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 12.65% and a negative net margin of 57.26%. Equities research analysts expect that Redwire Corporation will post -0.68 EPS for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the sale, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company's stock.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company's offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire's portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.

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