Proficio Capital Partners LLC Acquires Shares of 16,888 Redwire Co. (NYSE:RDW)

Proficio Capital Partners LLC bought a new position in shares of Redwire Co. (NYSE:RDW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,888 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors have also modified their holdings of the business. State Street Corp grew its stake in Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of Redwire during the 4th quarter valued at approximately $329,000. Stifel Financial Corp acquired a new stake in shares of Redwire during the third quarter worth approximately $139,000. Barclays PLC increased its stake in shares of Redwire by 55.8% in the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after buying an additional 422,854 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in Redwire in the fourth quarter valued at $1,151,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the completion of the transaction, the insider now directly owns 4,603,427 shares in the company, valued at $78,212,224.73. This represents a 1.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 684,454 shares of company stock valued at $13,682,993 over the last quarter. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RDW shares. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. Finally, B. Riley reduced their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and an average target price of $17.71.

Redwire Stock Performance

NYSE RDW opened at $11.11 on Thursday. Redwire Co. has a one year low of $3.39 and a one year high of $26.66. The company has a 50-day simple moving average of $17.22 and a 200-day simple moving average of $12.99. The firm has a market capitalization of $839.24 million, a PE ratio of -9.18 and a beta of 2.33.

Redwire Profile

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.