Van ECK Associates Corp Buys 4,341,424 Shares of Redwire Corporation $RDW

Key Points

• Van ECK Associates increased its Redwire stake by 173% in the second quarter, buying 4.34 million shares and bringing its holdings to 6.85 million shares, or 2.74% of the company.
• Analyst sentiment remains mixed: Redwire has a consensus “Hold” rating and a $14.44 price target, despite several Buy/Overweight ratings and recent target increases.
• Redwire’s latest quarter exceeded expectations, with revenue of $117.1 million and an adjusted EPS loss of $0.09 versus the projected $0.16 loss. However, the company remains unprofitable, with a negative 57.26% net margin.

Van ECK Associates Corp lifted its stake in Redwire Corporation (NYSE:RDW - Free Report) by 173.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,851,228 shares of the company's stock after purchasing an additional 4,341,424 shares during the period. Van ECK Associates Corp owned 2.74% of Redwire worth $83,791,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC bought a new position in Redwire in the first quarter worth about $28,000. KBC Group NV purchased a new position in shares of Redwire during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. raised its position in shares of Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock worth $30,000 after acquiring an additional 3,396 shares in the last quarter. CWM LLC lifted its stake in shares of Redwire by 1,725.0% in 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 period. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Redwire by 1,054.0% during the fourth 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 in the last quarter. Institutional investors own 8.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RDW. Wall Street Zen raised Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research report on Thursday, August 6th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a report on Sunday, August 9th. Cantor Fitzgerald increased their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Redwire currently has a consensus rating of "Hold" and a consensus price target of $14.44.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were 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 of the company's stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Redwire Price Performance

RDW opened at $10.92 on Friday. The firm has a market cap of $2.73 billion, a PE ratio of -7.48 and a beta of 3.05. The stock has a 50-day moving average price of $10.89 and a 200-day moving average price of $11.43. Redwire Corporation has a 1 year low of $4.87 and a 1 year high of $26.64. 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 (NYSE:RDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate 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 net margin of 57.26% and a negative return on equity of 11.02%. Sell-side analysts predict that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

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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