69,922 Shares in Redwire Co. (NYSE:RDW) Bought by Van ECK Associates Corp

Van ECK Associates Corp bought a new position in Redwire Co. (NYSE:RDW) in the fourth quarter, Holdings Channel.com reports. The firm bought 69,922 shares of the company’s stock, valued at approximately $1,151,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Management LLC raised its stake in Redwire by 129.1% in the 3rd 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. Stifel Financial Corp purchased a new position in Redwire in the 3rd quarter worth $139,000. SG Americas Securities LLC raised its stake in Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock worth $150,000 after acquiring an additional 6,200 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in Redwire in the 4th quarter worth $165,000. Finally, Brookstone Capital Management purchased a new position in Redwire in the 4th quarter worth $329,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Stock Down 10.5 %

Shares of Redwire stock opened at $17.90 on Friday. Redwire Co. has a twelve month low of $2.89 and a twelve month high of $26.66. The business has a 50-day moving average price of $18.74 and a 200 day moving average price of $12.00. The firm has a market cap of $1.19 billion, a PE ratio of -14.79 and a beta of 2.23.

Insider Activity at Redwire

In related news, major shareholder Park Lp Genesis II sold 89,870 shares of Redwire stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.99, for a total value of $1,526,891.30. Following the completion of the transaction, the insider now owns 4,603,427 shares in the company, valued at $78,212,224.73. The trade was a 1.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 684,454 shares of company stock worth $13,682,993 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RDW shares. Cantor Fitzgerald started coverage on Redwire in a research note on Friday, January 24th. They set an “overweight” rating and a $28.00 price objective for the company. HC Wainwright lifted their price objective on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Finally, Roth Mkm lifted their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.04.

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.