Wolverine Asset Management LLC Has $377,000 Stake in Redwire Corporation (NYSE:RDW)

Key Points

• Wolverine Asset Management LLC increased its holdings in Redwire Corporation by 192.7%, acquiring an additional 29,962 shares to reach a total of 45,508 shares valued at approximately $377,000.
• Redwire reported a significant loss of ($0.39) EPS for the latest quarter, falling short of analysts' expectations, with revenues of $61.76 million against estimates of $80.48 million.
• The stock price of Redwire Corporation declined 5.2% recently, with current trading at $8.98, while maintaining a market capitalization of $1.28 billion.

Wolverine Asset Management LLC grew its position in shares of Redwire Corporation (NYSE:RDW - Free Report) by 192.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,508 shares of the company's stock after purchasing an additional 29,962 shares during the period. Wolverine Asset Management LLC owned approximately 0.06% of Redwire worth $377,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RDW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Redwire by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company's stock valued at $212,000 after purchasing an additional 532 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Redwire by 7.8% during the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company's stock worth $179,000 after buying an additional 782 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock valued at $39,000 after purchasing an additional 931 shares during the period. Quarry LP bought a new stake in shares of Redwire in the 4th quarter worth $33,000. Finally, Deutsche Bank AG boosted its stake in Redwire by 40.0% during the first quarter. Deutsche Bank AG now owns 14,072 shares of the company's stock valued at $117,000 after buying an additional 4,017 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

Redwire Stock Up 2.5%

Redwire stock traded up $0.24 during mid-day trading on Wednesday, hitting $9.66. The company's stock had a trading volume of 4,926,429 shares, compared to its average volume of 2,834,633. The firm's 50 day moving average is $15.87 and its 200 day moving average is $14.48. The company has a market cap of $1.38 billion, a PE ratio of -2.97 and a beta of 2.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.18. Redwire Corporation has a 52-week low of $5.27 and a 52-week high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.28). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%. The firm had revenue of $61.76 million during the quarter, compared to analyst estimates of $80.48 million. On average, analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Roth Capital reaffirmed a "buy" rating on shares of Redwire in a research note on Tuesday, June 24th. B. Riley reduced their target price on Redwire from $25.00 to $20.00 and set a "buy" rating for the company in a report on Friday, August 8th. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Monday, May 12th. Canaccord Genuity Group reduced their target price on Redwire from $21.00 to $17.50 and set a "buy" rating for the company in a report on Monday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price (down from $26.00) on shares of Redwire in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.42.

Redwire 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.