Dover Advisors LLC Purchases New Stake in Redwire Corporation $RDW

Dover Advisors LLC purchased a new stake in Redwire Corporation (NYSE:RDW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 48,682 shares of the company’s stock, valued at approximately $370,000.

Other hedge funds have also bought and sold shares of the company. CWM LLC grew its position in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in Redwire in the 3rd quarter valued at $41,000. Russell Investments Group Ltd. grew its position in Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the period. Tower Research Capital LLC TRC grew its position in Redwire by 32.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after purchasing an additional 1,533 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Redwire by 440.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after acquiring an additional 5,395 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RDW. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Jefferies Financial Group cut Redwire from a “buy” rating to a “hold” rating and raised their price objective for the company from $13.00 to $24.00 in a research note on Monday. Canaccord Genuity Group raised their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Finally, Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of Redwire stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the sale, the director directly owned 21,494,349 shares in the company, valued at $227,195,268.93. The trade was a 4.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 23,327,795 shares of company stock worth $228,806,188. Insiders own 0.79% of the company’s stock.

Redwire Price Performance

Shares of NYSE:RDW opened at $20.56 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $11.95 and its two-hundred day simple moving average is $9.75. Redwire Corporation has a 1-year low of $4.87 and a 1-year high of $26.64. The stock has a market cap of $3.95 billion, a PE ratio of -7.67 and a beta of 2.92.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The company had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. Redwire’s revenue was up 57.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) earnings per share. As a group, analysts forecast that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Redwire Company Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.