Tidal Investments LLC Purchases Shares of 630,957 Redwire Corporation $RDW

Key Points

• Tidal Investments acquired 630,957 Redwire shares worth approximately $7.7 million, representing about 0.25% of the company. Institutional investors and hedge funds collectively own 8.10% of Redwire.
• Analyst sentiment is mixed, with Redwire receiving an average rating of “Hold” and a consensus price target of $14.69; price targets range from $8 to $15.
• Redwire reported stronger-than-expected quarterly results, with revenue of $117.07 million versus $107.10 million expected and an adjusted loss of $0.09 per share compared with estimates of $0.16.

Tidal Investments LLC acquired a new position in Redwire Corporation (NYSE:RDW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 630,957 shares of the company's stock, valued at approximately $7,717,000. Tidal Investments LLC owned approximately 0.25% of Redwire at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of Redwire by 125.0% in the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company's stock valued at $426,000 after purchasing an additional 28,576 shares during the period. Goldman Sachs Group Inc. grew its position in Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock valued at $2,945,000 after buying an additional 276,814 shares during the period. Strs Ohio purchased a new position in Redwire in the first quarter valued at $69,000. Rhumbline Advisers raised its position in shares of Redwire by 61.0% in the second quarter. Rhumbline Advisers now owns 56,517 shares of the company's stock worth $921,000 after acquiring an additional 21,417 shares during the period. Finally, Invesco Ltd. raised its position in shares of Redwire by 57.6% in the second quarter. Invesco Ltd. now owns 21,198 shares of the company's stock worth $346,000 after acquiring an additional 7,750 shares during the period. Institutional investors and hedge funds own 8.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Bank of America upped their price target on Redwire from $7.00 to $8.00 and gave the stock an "underperform" rating in a report on Monday, August 31st. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Thursday, August 6th. Jefferies Financial Group set a $15.00 price target on Redwire in a research report on Sunday, August 9th. Finally, Canaccord Genuity Group raised their price objective on Redwire from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.69.

Redwire Stock Performance

RDW opened at $10.62 on Friday. The firm's fifty day simple moving average is $10.68 and its two-hundred day simple moving average is $11.57. Redwire Corporation has a 52-week low of $4.87 and a 52-week high of $26.64. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -7.28 and a beta of 3.08. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The business had revenue of $117.07 million during the quarter, compared to analysts' expectations of $107.10 million. Equities analysts anticipate that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company's offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.

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