The Manufacturers Life Insurance Company Invests $74,000 in Redwire Co. (NYSE:RDW)

The Manufacturers Life Insurance Company acquired a new stake in Redwire Co. (NYSE:RDW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,279 shares of the company’s stock, valued at approximately $74,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position 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. Bank of New York Mellon Corp lifted its stake in Redwire by 496.1% during the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after purchasing an additional 59,372 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Redwire by 59.4% in the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock worth $511,000 after purchasing an additional 26,543 shares during the period. DNB Asset Management AS increased its stake in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after purchasing an additional 7,538 shares during the last quarter. Finally, LJI Wealth Management LLC acquired a new stake in shares of Redwire during the second quarter worth $258,000. 8.10% of the stock is owned by institutional investors.

Redwire Stock Performance

Redwire stock opened at $8.52 on Monday. The firm has a market capitalization of $558.73 million, a P/E ratio of -11.83 and a beta of 1.96. The company has a 50-day simple moving average of $6.74 and a 200-day simple moving average of $5.94. Redwire Co. has a one year low of $2.35 and a one year high of $8.94.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to analysts’ expectations of $66.86 million. As a group, sell-side analysts forecast that Redwire Co. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on RDW. B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Finally, Alliance Global Partners upped their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $7.65.

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.