SG Americas Securities LLC Buys 6,200 Shares of Redwire Co. (NYSE:RDW)

SG Americas Securities LLC boosted its stake in shares of Redwire Co. (NYSE:RDW) by 39.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,870 shares of the company’s stock after purchasing an additional 6,200 shares during the quarter. SG Americas Securities LLC’s holdings in Redwire were worth $150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after purchasing an additional 3,681 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after acquiring an additional 59,372 shares during the period. LJI Wealth Management LLC bought a new stake in shares of Redwire in the second quarter valued at about $258,000. Rhumbline Advisers boosted its position in shares of Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after acquiring an additional 12,703 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Redwire in the second quarter valued at about $74,000. 8.10% of the stock is owned by institutional investors.

Redwire Stock Up 0.7 %

RDW opened at $8.83 on Friday. Redwire Co. has a twelve month low of $2.35 and a twelve month high of $9.36. The company has a 50-day simple moving average of $7.01 and a 200 day simple moving average of $6.05. The stock has a market capitalization of $579.06 million, a price-to-earnings ratio of -12.26 and a beta of 1.96.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The company had revenue of $78.11 million for the quarter, compared to analyst estimates of $66.86 million. Sell-side analysts anticipate that Redwire Co. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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