Renaissance Technologies LLC Increases Holdings in Redwire Co. (NYSE:RDW)

Renaissance Technologies LLC increased its holdings in shares of Redwire Co. (NYSE:RDW - Free Report) by 22.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 324,200 shares of the company's stock after purchasing an additional 59,400 shares during the period. Renaissance Technologies LLC owned approximately 0.49% of Redwire worth $5,336,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Federated Hermes Inc. increased its stake in Redwire by 165.7% in the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company's stock valued at $8,202,000 after purchasing an additional 310,769 shares in the last quarter. Russell Investments Group Ltd. increased its position in Redwire by 3,504.1% in the 4th quarter. Russell Investments Group Ltd. now owns 20,976 shares of the company's stock valued at $345,000 after buying an additional 20,394 shares in the last quarter. Wells Fargo & Company MN raised its stake in Redwire by 43.4% during the 4th quarter. Wells Fargo & Company MN now owns 16,326 shares of the company's stock worth $269,000 after buying an additional 4,939 shares during the period. Summit Securities Group LLC acquired a new position in Redwire during the 4th quarter worth approximately $63,000. Finally, JPMorgan Chase & Co. boosted its holdings in Redwire by 7.8% in the fourth quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company's stock worth $179,000 after acquiring an additional 782 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RDW has been the topic of a number of research reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and set a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. B. Riley reduced their price objective on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.71.

Redwire Stock Performance

RDW traded down $0.10 during mid-day trading on Friday, reaching $10.87. 313,218 shares of the stock were exchanged, compared to its average volume of 969,073. The company has a 50 day moving average price of $11.47 and a two-hundred day moving average price of $13.31. The stock has a market capitalization of $821.48 million, a PE ratio of -8.97 and a beta of 2.51. Redwire Co. has a 1 year low of $3.75 and a 1 year high of $26.66.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total value of $243,872.65. Following the completion of the sale, the insider now owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. This trade represents a 0.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 166,798 shares of company stock worth $3,827,641. 2.60% of the stock is owned by insiders.

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.