Hennion & Walsh Asset Management Inc. Takes Position in Redwire Co. (NYSE:RDW)

Hennion & Walsh Asset Management Inc. bought a new position in shares of Redwire Co. (NYSE:RDW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,898 shares of the company’s stock, valued at approximately $157,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp purchased a new position in shares of Redwire in the 4th quarter worth approximately $1,151,000. Wolverine Asset Management LLC boosted its position in shares of Redwire by 332.2% in the fourth quarter. Wolverine Asset Management LLC now owns 15,546 shares of the company’s stock valued at $256,000 after acquiring an additional 11,949 shares during the period. Bank of New York Mellon Corp lifted its position in Redwire by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company’s stock valued at $859,000 after purchasing an additional 3,357 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Redwire during the fourth quarter valued at approximately $278,000. Finally, US Bancorp DE bought a new stake in shares of Redwire in the 4th quarter worth approximately $119,000. Institutional investors own 8.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. B. Riley lowered their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of Redwire in a report on Wednesday, March 12th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Redwire has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Redwire Stock Performance

NYSE RDW opened at $20.04 on Tuesday. The stock’s fifty day moving average is $11.74 and its two-hundred day moving average is $14.28. The firm has a market capitalization of $1.54 billion, a P/E ratio of -16.56 and a beta of 2.53. Redwire Co. has a fifty-two week low of $4.87 and a fifty-two week high of $26.66.

Redwire (NYSE:RDW) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $61.40 million for the quarter, compared to analyst estimates of $74.54 million. As a group, sell-side analysts forecast that Redwire Co. will post -0.85 EPS for the current year.

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.