Proficio Capital Partners LLC Makes New Investment in Redwire Co. (NYSE:RDW)

Proficio Capital Partners LLC purchased a new stake in Redwire Co. (NYSE:RDW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,888 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp raised its stake in shares of Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after purchasing an additional 1,372 shares in the last quarter. MetLife Investment Management LLC increased its stake in Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares during the period. US Bancorp DE bought a new stake in shares of Redwire during the 4th quarter worth about $119,000. Stifel Financial Corp acquired a new stake in shares of Redwire in the 3rd quarter worth approximately $139,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Redwire in the fourth quarter valued at approximately $165,000. Institutional investors own 8.10% of the company’s stock.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of Redwire stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.99, for a total value of $1,526,891.30. Following the transaction, the insider now directly owns 4,603,427 shares of the company’s stock, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 684,454 shares of company stock valued at $13,682,993 over the last three months. Company insiders own 2.60% of the company’s stock.

Redwire Stock Performance

NYSE RDW opened at $11.11 on Thursday. The stock has a market capitalization of $839.24 million, a P/E ratio of -9.18 and a beta of 2.33. The business’s fifty day moving average is $17.22 and its two-hundred day moving average is $12.99. Redwire Co. has a 1 year low of $3.39 and a 1 year high of $26.66.

Wall Street Analysts Forecast Growth

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

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.