Genesis Park II LP, a significant stakeholder in Redwire Corp (NYSE:RDW), has sold a portion of its holdings in the space infrastructure company. The timing of the sale coincides with RDW’s remarkable performance, having surged 48.59% in the past week alone. According to a recent SEC filing, Genesis Park II LP sold a total of 200,000 shares of Redwire Corp’s common stock over two separate transactions. InvestingPro analysis indicates the stock is currently in overbought territory, with analyst price targets ranging from $6 to $30.
The sales occurred on January 21 and January 22, with the shares being sold at weighted average prices of $19.6116 and $21.0731, respectively. The transactions amounted to a total value of approximately $3.99 million. Following these sales, Genesis Park II LP retains ownership of 4,107,489 shares in Redwire Corp, maintaining a significant position in the company, which now carries a market capitalization of $1.45 billion.
Additionally, Genesis Park II LP also sold warrants to purchase common stock in Redwire Corp. The warrants, which are exercisable at a price of $11.5 per share, were sold in two transactions at weighted average prices ranging from $9.9073 to $10.0903. These transactions involved a total of 100,000 warrants.
Genesis Park II LP, through its general partner Genesis Park II GP LLC, maintains voting and investment discretion over the securities held. The transactions reflect a strategic move by the firm, which remains a significant investor in Redwire Corp despite these recent sales.
In other recent news, Redwire Corporation has been making significant strides in the aerospace sector. The company recently reported a 9.6% increase in revenue, reaching $68.6 million for the third quarter of 2024. This growth aligns with Redwire’s full-year revenue forecast of $310 million, marking a 27% growth rate with 76% of the target achieved year-to-date.
Additionally, Redwire has announced a definitive agreement to acquire Edge Autonomy, a company specializing in uncrewed airborne systems. The transaction, valued at $925 million, is expected to strategically position Redwire to expand its operations into multi-domain activities. This acquisition is projected to result in over threefold accretion to EBITDA and a near-term pathway to achieving 20% EBITDA margins.
In terms of analyst notes, Jefferies has maintained its Buy rating on Redwire with a price target of $21. This follows Redwire’s announcement of the acquisition of Edge Autonomy, which Jefferies views as a pivotal strategic expansion for the company. Similarly, H.C. Wainwright has maintained a Buy rating on Redwire shares, forecasting a revenue increase to $366.0 million in 2025. These are recent developments regarding Redwire Corporation.
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