Geode Capital Management LLC Boosts Stake in Redwire Co. (NYSE:RDW)

Geode Capital Management LLC lifted its position in Redwire Co. (NYSE:RDW) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 523,743 shares of the company’s stock after acquiring an additional 30,963 shares during the period. Geode Capital Management LLC owned 0.79% of Redwire worth $3,599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock worth $512,000 after acquiring an additional 59,372 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after acquiring an additional 12,703 shares during the last quarter. LJI Wealth Management LLC bought a new position in shares of Redwire during the second quarter valued at $258,000. Squarepoint Ops LLC raised its position in shares of Redwire by 59.4% in the 2nd 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 last quarter. Finally, AQR Capital Management LLC purchased a new position in Redwire in the second quarter worth about $89,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Stock Performance

Shares of Redwire stock opened at $17.48 on Tuesday. The stock has a market cap of $1.16 billion, a P/E ratio of -14.45 and a beta of 2.17. The stock’s fifty day moving average is $12.51 and its 200 day moving average is $8.88. Redwire Co. has a one year low of $2.68 and a one year high of $18.54.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RDW. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Redwire in a research report on Wednesday, December 11th. Finally, Roth Mkm boosted their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.13.

Insiders Place Their Bets

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the sale, the insider now directly owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

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.