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Genesis Park II LP, a significant shareholder in Redwire Corp (NYSE:RDW), has recently sold 92,694 shares of the company’s common stock, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, which took place over two days, amounted to a total value of approximately $2.19 million. The sale comes amid Redwire’s remarkable performance, with the stock delivering a 674% return over the past year, according to InvestingPro data.
On February 4, Genesis Park II sold 50,000 shares at a weighted average price of $23.1995 per share. The price for these transactions ranged between $23.00 and $23.71 per share. The following day, February 5, an additional 42,694 shares were sold at a weighted average price of $24.1501 per share, with prices ranging from $24.00 to $24.58. InvestingPro analysis indicates the stock currently trades near its Fair Value, with analyst price targets ranging from $21 to $30.
After these transactions, Genesis Park II LP holds 3,711,347 shares of Redwire Corp. Genesis Park II GP LLC, the general partner of Genesis Park II LP, shares beneficial ownership of these securities. With a market capitalization of $1.58 billion, Redwire shows strong momentum, having gained 283% in the past six months. For deeper insights into RDW’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Redwire has been making significant strides in the space infrastructure and defense technology industry. B.Riley has upgraded the company’s stock rating from Neutral to Buy, increasing the price target from $9.50 to $27. This adjustment is due to Redwire’s recent acquisition of Edge Autonomy, a move that has positioned Redwire as a comprehensive space infrastructure and defense technology company.
Cantor Fitzgerald has also maintained an Overweight rating on Redwire’s stock, with a price target of $28. The firm sees the acquisition as a positive development, marking a transition for Redwire to become a system-of-systems provider for defense customers. Jefferies analysts have likewise retained their Buy rating for Redwire, with a price target of $21, recognizing the strategic value of the acquisition.
In terms of financial performance, Redwire reported $222 million in sales and $72 million in EBITDA for the trailing twelve months ending September 30, 2024. The acquisition of Edge Autonomy is expected to be financially beneficial, with projections indicating over threefold accretion to EBITDA and a near-term pathway to achieving 20% EBITDA margins. These recent developments have positioned Redwire as a key player in the space and defense technology sectors.
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