UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 156,481 Shares of Redwire Corporation $RDW

Key Points

• UBS Asset Management increased its Redwire position by 132.3% in the second quarter, purchasing 156,481 shares to own 274,715 shares valued at approximately $3.36 million.
• Several major institutions also expanded their stakes, including BlackRock, Bank of America, VanEck and State Street; institutional investors collectively own 8.1% of Redwire.
• Analysts have a mixed outlook, with a consensus “Hold” rating and average price target of $14.69. Redwire beat quarterly revenue and EPS estimates, reporting $117.07 million in revenue and a loss of $0.09 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Redwire Corporation (NYSE:RDW - Free Report) by 132.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 274,715 shares of the company's stock after buying an additional 156,481 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Redwire worth $3,360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Redwire during the second quarter valued at approximately $196,514,000. Bank of America Corp DE grew its position in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company's stock valued at $57,970,000 after purchasing an additional 6,730,414 shares during the period. Van ECK Associates Corp grew its position in Redwire by 173.0% in the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company's stock valued at $83,791,000 after purchasing an additional 4,341,424 shares during the period. State Street Corp increased its stake in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company's stock valued at $35,785,000 after purchasing an additional 1,786,038 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Redwire during the second quarter worth $16,583,000. Institutional investors and hedge funds own 8.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on RDW shares. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday, August 9th. Canaccord Genuity Group boosted their target price on shares of Redwire from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Cantor Fitzgerald upped their target price on shares of Redwire from $9.00 to $13.50 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Redwire from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Redwire in a research note on Friday, July 17th. One 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.69.

Redwire Stock Performance

NYSE RDW opened at $10.84 on Friday. The company has a fifty day moving average price of $10.69 and a 200-day moving average price of $11.58. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -7.43 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. Redwire Corporation has a 1 year low of $4.87 and a 1 year high of $26.64.

Redwire (NYSE:RDW - Get Free Report) last released its quarterly earnings results 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. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The company had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. As a group, equities research analysts predict that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Redwire Company Profile

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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