SG Americas Securities LLC Increases Stock Holdings in Redwire Co. (NYSE:RDW)

SG Americas Securities LLC lifted its stake in Redwire Co. (NYSE:RDW) by 39.6% in the third quarter, Holdings Channel.com reports. The firm owned 21,870 shares of the company’s stock after buying an additional 6,200 shares during the period. SG Americas Securities LLC’s holdings in Redwire were worth $150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDW. Vanguard Group Inc. boosted its holdings in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after acquiring an additional 3,681 shares during the period. DNB Asset Management AS raised its position in Redwire by 23.9% during the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock valued at $280,000 after purchasing an additional 7,538 shares in the last quarter. Bank of New York Mellon Corp raised its position in Redwire by 496.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after purchasing an additional 59,372 shares in the last quarter. Rhumbline Advisers raised its position in Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares in the last quarter. Finally, LJI Wealth Management LLC bought a new stake in Redwire during the 2nd quarter valued at $258,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Trading Up 0.7 %

RDW opened at $8.83 on Friday. Redwire Co. has a 12 month low of $2.35 and a 12 month high of $9.36. The stock has a fifty day moving average price of $7.01 and a 200-day moving average price of $6.05. The firm has a market cap of $579.06 million, a price-to-earnings ratio of -12.26 and a beta of 1.96.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The company had revenue of $78.11 million during the quarter, compared to analysts’ expectations of $66.86 million. On average, equities research analysts forecast that Redwire Co. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RDW. Alliance Global Partners lifted their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $7.65.

Redwire Company 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.