DNB Asset Management AS Buys 7,538 Shares of Redwire Co. (NYSE:RDW)

DNB Asset Management AS increased its stake in shares of Redwire Co. (NYSE:RDW) by 23.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,094 shares of the company’s stock after buying an additional 7,538 shares during the quarter. DNB Asset Management AS owned 0.06% of Redwire worth $280,000 at the end of the most recent quarter.

Separately, Vanguard Group Inc. grew its stake in shares of Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, July 22nd. Longbow Research boosted their target price on Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Roth Mkm upped their target price on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 10th. Alliance Global Partners upped their price objective on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and increased their price target for the company from $6.00 to $8.00 in a research report on Monday, July 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.65.

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 24,883 shares of Redwire stock in a transaction on Friday, July 19th. The stock was sold at an average price of $7.10, for a total value of $176,669.30. Following the completion of the transaction, the director now directly owns 35,708,528 shares in the company, valued at $253,530,548.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 238,732 shares of company stock valued at $1,836,940 over the last three months. Company insiders own 2.60% of the company’s stock.

Redwire Stock Up 0.3 %

Redwire stock traded up $0.02 during midday trading on Wednesday, reaching $6.16. The stock had a trading volume of 19,981 shares, compared to its average volume of 323,009. The firm has a market capitalization of $403.97 million, a PE ratio of -8.53 and a beta of 1.97. Redwire Co. has a 12 month low of $2.35 and a 12 month high of $8.23. The firm’s 50-day moving average price is $6.49 and its 200 day moving average price is $4.70.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $87.79 million for the quarter, compared to the consensus estimate of $65.88 million. Equities research analysts expect that Redwire Co. will post -0.48 EPS for the current year.

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.