Vontobel Holding Ltd. Takes Position in Redwire Co. (NYSE:RDW)

Vontobel Holding Ltd. purchased a new position in Redwire Co. (NYSE:RDW) during the 3rd quarter, HoldingsChannel reports. The firm purchased 10,768 shares of the company’s stock, valued at approximately $74,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after buying an additional 59,372 shares during the last quarter. LJI Wealth Management LLC acquired a new stake in shares of Redwire in the 2nd quarter worth about $258,000. Squarepoint Ops LLC lifted its position in Redwire by 59.4% in the 2nd quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after purchasing an additional 26,543 shares during the last quarter. SG Americas Securities LLC acquired a new position in Redwire during the 1st quarter valued at about $59,000. Finally, Rhumbline Advisers grew its position in 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 last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. Alliance Global Partners raised their price target on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Redwire presently has an average rating of “Buy” and a consensus target price of $7.65.

Redwire Price Performance

RDW opened at $8.77 on Thursday. Redwire Co. has a 1-year low of $2.35 and a 1-year high of $9.36. The company has a market capitalization of $575.13 million, a price-to-earnings ratio of -12.18 and a beta of 1.96. The business has a 50 day moving average price of $6.95 and a two-hundred day moving average price of $6.03.

Redwire (NYSE:RDW) last announced its quarterly earnings data 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 firm had revenue of $78.11 million during the quarter, compared to analyst estimates of $66.86 million. Equities analysts expect that Redwire Co. will post -0.87 EPS for the current fiscal year.

About Redwire

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.