LJI Wealth Management LLC Invests $258,000 in Redwire Co. (NYSE:RDW)

LJI Wealth Management LLC purchased a new position in Redwire Co. (NYSE:RDW) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 36,000 shares of the company’s stock, valued at approximately $258,000.

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

Redwire Trading Up 0.6 %

NYSE RDW opened at $6.30 on Thursday. The company has a fifty day simple moving average of $6.54 and a two-hundred day simple moving average of $5.39. The stock has a market cap of $413.15 million, a P/E ratio of -8.75 and a beta of 1.96. Redwire Co. has a 12-month low of $2.35 and a 12-month high of $8.23.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to analyst estimates of $66.86 million. As a group, sell-side analysts forecast that Redwire Co. will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 24,883 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $7.10, for a total value of $176,669.30. Following the completion of the transaction, the director now owns 35,708,528 shares of the company’s stock, valued at $253,530,548.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 238,732 shares of company stock valued at $1,836,940. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

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