Perigon Wealth Management LLC Invests $874,000 in Redwire Corporation $RDW

Perigon Wealth Management LLC purchased a new position in Redwire Corporation (NYSE:RDW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 71,489 shares of the company’s stock, valued at approximately $874,000.

A number of other large investors have also modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Redwire during the 2nd quarter valued at about $16,583,000. Global Retirement Partners LLC purchased a new position in shares of Redwire in the second quarter worth about $82,000. Alberta Investment Management Corp purchased a new position in shares of Redwire in the second quarter worth about $2,528,000. Bank of New York Mellon Corp acquired a new stake in shares of Redwire during the second quarter worth about $6,770,000. Finally, State of Wyoming purchased a new stake in Redwire in the second quarter valued at approximately $94,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Stock Performance

RDW opened at $12.89 on Wednesday. The firm’s fifty day simple moving average is $11.40 and its two-hundred day simple moving average is $11.39. Redwire Corporation has a 52-week low of $4.87 and a 52-week high of $26.64. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -8.83 and a beta of 3.05. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. Equities analysts anticipate that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RDW. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Canaccord Genuity Group raised their target price on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Cantor Fitzgerald increased their price target on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.44.

Insider Activity at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is currently owned by corporate insiders.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.