Brookstone Capital Management Takes $329,000 Position in Redwire Co. (NYSE:RDW)

Brookstone Capital Management bought a new stake in shares of Redwire Co. (NYSE:RDW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 20,006 shares of the company’s stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RDW. SG Americas Securities LLC lifted its holdings in Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock valued at $150,000 after purchasing an additional 6,200 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Redwire in the 2nd quarter valued at $74,000. Penserra Capital Management LLC lifted its holdings in Redwire by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after purchasing an additional 10,558 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in Redwire in the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

RDW has been the subject of a number of recent research reports. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. Roth Mkm raised their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Redwire in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.13.

Redwire Trading Up 1.0 %

Shares of NYSE:RDW opened at $14.71 on Friday. The business has a 50-day moving average price of $13.77 and a 200 day moving average price of $9.40. The company has a market capitalization of $978.80 million, a price-to-earnings ratio of -12.16 and a beta of 2.17. Redwire Co. has a 12-month low of $2.69 and a 12-month high of $18.54.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of Redwire stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 267,656 shares of company stock valued at $4,721,852. 2.60% of the stock is currently owned by 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.