Redwire (NYSE:RDW) Hits New 12-Month High – Should You Buy?

Redwire Co. (NYSE:RDW) shares hit a new 52-week high during trading on Monday . The stock traded as high as $15.25 and last traded at $14.07, with a volume of 474239 shares. The stock had previously closed at $13.96.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RDW. Roth Mkm lifted their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. HC Wainwright assumed coverage on Redwire in a research report on Tuesday, November 26th. They set a “buy” rating and a $18.00 price objective for the company. Finally, B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and an average target price of $10.13.

Redwire Stock Performance

The stock has a 50 day moving average price of $9.04 and a 200 day moving average price of $7.23. The company has a market cap of $902.96 million, a P/E ratio of -11.54 and a beta of 1.93.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently modified their holdings of RDW. Vontobel Holding Ltd. purchased a new position in shares of Redwire during the third quarter valued at $74,000. The Manufacturers Life Insurance Company purchased a new position in shares of Redwire during the second quarter valued at $74,000. AQR Capital Management LLC purchased a new position in shares of Redwire during the second quarter valued at $89,000. MetLife Investment Management LLC grew its holdings in shares of Redwire by 129.1% during the third 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 in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Redwire by 17.2% during the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after buying an additional 2,296 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.