DnB Asset Management AS Sells 18,453 Shares of Redwire Co. (NYSE:RDW)

DnB Asset Management AS trimmed its position in Redwire Co. (NYSE:RDW) by 48.3% during the 4th quarter, HoldingsChannel reports. The firm owned 19,776 shares of the company’s stock after selling 18,453 shares during the quarter. DnB Asset Management AS’s holdings in Redwire were worth $326,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in shares of Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after buying an additional 1,372 shares in the last quarter. MetLife Investment Management LLC increased its stake in Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after acquiring an additional 7,921 shares during the last quarter. US Bancorp DE bought a new stake in Redwire during the fourth quarter worth approximately $119,000. Stifel Financial Corp purchased a new stake in Redwire during the third quarter valued at approximately $139,000. Finally, Quantbot Technologies LP bought a new stake in shares of Redwire in the 4th quarter valued at approximately $154,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.02, for a total transaction of $1,802,000.00. Following the completion of the sale, the insider now directly owns 4,322,853 shares of the company’s stock, valued at approximately $77,897,811.06. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 589,213 shares of company stock valued at $12,059,370. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Redwire Price Performance

Shares of RDW stock opened at $9.21 on Thursday. The company has a market capitalization of $696.03 million, a P/E ratio of -7.61 and a beta of 2.33. The company’s 50-day simple moving average is $16.35 and its two-hundred day simple moving average is $13.08. Redwire Co. has a one year low of $3.39 and a one year high of $26.66.

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.