Van ECK Associates Corp Invests $1.15 Million in Redwire Co. (NYSE:RDW)

Van ECK Associates Corp acquired a new position in Redwire Co. (NYSE:RDW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 69,922 shares of the company’s stock, valued at approximately $1,151,000. Van ECK Associates Corp owned approximately 0.11% of Redwire as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RDW. MetLife Investment Management LLC grew its stake in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares in the last quarter. Stifel Financial Corp bought a new position in Redwire in the third quarter worth approximately $139,000. SG Americas Securities LLC grew its stake in Redwire by 39.6% in the third quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock worth $150,000 after purchasing an additional 6,200 shares in the last quarter. Arkadios Wealth Advisors bought a new position in Redwire in the fourth quarter worth approximately $165,000. Finally, Brookstone Capital Management bought a new position in Redwire in the fourth quarter worth approximately $329,000. Institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

Redwire stock opened at $17.90 on Friday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -14.79 and a beta of 2.23. Redwire Co. has a 1-year low of $2.89 and a 1-year high of $26.66. The business has a fifty day moving average price of $18.74 and a 200-day moving average price of $12.00.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDW. Cantor Fitzgerald began coverage on Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 price objective on the stock. Roth Mkm increased their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. HC Wainwright increased their target price on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, B. Riley raised Redwire from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $18.04.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 150,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $19.61, for a total value of $2,941,500.00. Following the completion of the sale, the insider now owns 4,157,489 shares of the company’s stock, valued at $81,528,359.29. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 684,454 shares of company stock valued at $13,682,993 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

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.