Walleye Capital LLC Has $3.33 Million Stock Position in Redwire Corporation $RDW

Key Points

• Walleye Capital LLC has reduced its stake in Redwire Corporation by 21.7%, now owning 402,224 shares valued at approximately $3.33 million.
• Redwire's stock has decreased by 3.7%, with shares currently trading at $8.95, significantly below its 12-month high of $26.66.
• The company reported a quarterly EPS of (0.39), missing analyst expectations and indicating a negative net margin of 71.95%.

Walleye Capital LLC lowered its stake in Redwire Corporation (NYSE:RDW - Free Report) by 21.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 402,224 shares of the company's stock after selling 111,323 shares during the period. Walleye Capital LLC owned approximately 0.53% of Redwire worth $3,334,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. LBP AM SA grew its position in Redwire by 24.8% in the first quarter. LBP AM SA now owns 496,230 shares of the company's stock valued at $4,114,000 after acquiring an additional 98,616 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Redwire in the fourth quarter valued at about $4,830,000. Northern Trust Corp grew its position in Redwire by 18.2% in the fourth quarter. Northern Trust Corp now owns 243,977 shares of the company's stock valued at $4,016,000 after acquiring an additional 37,522 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Redwire in the first quarter valued at about $1,300,000. Finally, Neuberger Berman Group LLC grew its position in Redwire by 150.0% in the first quarter. Neuberger Berman Group LLC now owns 114,840 shares of the company's stock valued at $952,000 after acquiring an additional 68,906 shares during the last quarter. Institutional investors own 8.10% of the company's stock.

Redwire Trading Down 3.2%

Shares of RDW stock traded down $0.30 during mid-day trading on Friday, reaching $8.91. 3,060,702 shares of the stock traded hands, compared to its average volume of 5,223,439. The stock's fifty day simple moving average is $13.64 and its two-hundred day simple moving average is $13.28. Redwire Corporation has a 1-year low of $5.67 and a 1-year high of $26.66. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -2.74 and a beta of 2.52. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates 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 net margin of 71.95% and a negative return on equity of 32.67%. On average, research analysts anticipate that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on Redwire from $21.00 to $17.50 and set a "buy" rating on the stock in a research report on Monday, August 11th. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Truist Financial set a $16.00 target price on Redwire and gave the company a "hold" rating in a research report on Thursday, June 26th. Roth Capital reiterated a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. Finally, Bank of America started coverage on Redwire in a research note on Monday, August 18th. They set an "underperform" rating and a $10.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.07.

Redwire Company Profile

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.