FNY Investment Advisers LLC Invests $47,000 in Redwire Corporation (NYSE:RDW)

FNY Investment Advisers LLC acquired a new position in Redwire Corporation (NYSE:RDW) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,698 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RDW. Van ECK Associates Corp acquired a new stake in shares of Redwire in the fourth quarter worth $1,151,000. Wolverine Asset Management LLC increased its stake in shares of Redwire by 332.2% in the fourth quarter. Wolverine Asset Management LLC now owns 15,546 shares of the company’s stock worth $256,000 after acquiring an additional 11,949 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Redwire by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company’s stock worth $859,000 after acquiring an additional 3,357 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Redwire in the fourth quarter worth $278,000. Finally, US Bancorp DE acquired a new stake in shares of Redwire in the fourth quarter worth $119,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Stock Down 18.6%

Shares of NYSE RDW opened at $16.75 on Wednesday. The company’s 50-day simple moving average is $13.04 and its 200-day simple moving average is $14.50. Redwire Corporation has a 52-week low of $4.87 and a 52-week high of $26.66. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -7.41 and a beta of 2.53.

Redwire (NYSE:RDW) last announced its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $61.40 million during the quarter, compared to analyst estimates of $74.54 million. Equities research analysts anticipate that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RDW. Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a research note on Saturday. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and set a $26.00 price target on shares of Redwire in a research report on Wednesday, March 12th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Monday, May 12th. Finally, B. Riley dropped their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.05.

About Redwire

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.