Redwire Corporation (NYSE:RDW) Shares Acquired by Wolverine Asset Management LLC

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 raised its position in Redwire Corporation (NYSE:RDW - Free Report) by 192.7% during the first quarter, according to the company in 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 quarter. Wolverine Asset Management LLC owned 0.06% of Redwire worth $377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank purchased a new stake in shares of Redwire during the first quarter worth $428,000. Deutsche Bank AG increased its position in shares of Redwire by 40.0% during the first quarter. Deutsche Bank AG now owns 14,072 shares of the company's stock worth $117,000 after acquiring an additional 4,017 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of Redwire during the first quarter worth $452,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Redwire during the first quarter worth $82,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Redwire during the first quarter worth $42,000. Hedge funds and other institutional investors own 8.10% of the company's stock.

Analyst Ratings Changes

RDW has been the topic of a number of recent research reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Canaccord Genuity Group cut their price objective on Redwire from $21.00 to $17.50 and set a "buy" rating on the stock in a research report on Monday. Roth Capital reaffirmed a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. B. Riley cut their price objective on Redwire from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $22.00 target price (down previously from $26.00) on shares of Redwire in a report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.42.

Redwire Stock Down 1.3%

NYSE:RDW traded down $0.12 during trading hours on Friday, hitting $8.97. The company's stock had a trading volume of 1,639,836 shares, compared to its average volume of 2,833,608. The stock has a market capitalization of $1.28 billion, a P/E ratio of -2.76 and a beta of 2.52. The stock has a fifty day moving average of $15.70 and a 200-day moving average of $14.39. The company has a current ratio of 1.46, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. Redwire Corporation has a 52-week low of $5.67 and a 52-week high of $26.66.

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

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.