Brookstone Capital Management Takes Position in Redwire Co. (NYSE:RDW)

Brookstone Capital Management acquired a new stake in Redwire Co. (NYSE:RDW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 20,006 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of Redwire by 39.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock valued at $150,000 after buying an additional 6,200 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Redwire by 129.1% in 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. The Manufacturers Life Insurance Company purchased a new position in shares of Redwire in the 2nd quarter valued at about $74,000. Penserra Capital Management LLC boosted its stake in shares of Redwire by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after buying an additional 10,558 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in shares of Redwire in the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Stock Up 1.0 %

RDW stock opened at $14.71 on Friday. Redwire Co. has a fifty-two week low of $2.69 and a fifty-two week high of $18.54. The business has a 50 day moving average price of $13.77 and a 200 day moving average price of $9.40. The stock has a market cap of $978.80 million, a price-to-earnings ratio of -12.16 and a beta of 2.17.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the sale, the insider now owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 267,656 shares of company stock worth $4,721,852. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RDW. 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. B. Riley cut Redwire from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Redwire in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and an average price target of $10.13.

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.