Redwire (NYSE:RDW) Sets New 12-Month High – Time to Buy?

Shares of Redwire Co. (NYSE:RDW) hit a new 52-week high on Tuesday . The stock traded as high as $24.52 and last traded at $21.68, with a volume of 3409313 shares trading hands. The stock had previously closed at $21.24.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RDW shares. HC Wainwright lifted their price target on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $9.50 to $27.00 in a research note on Monday. Roth Mkm raised 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. Finally, Cantor Fitzgerald began coverage on Redwire in a research report on Friday, January 24th. They issued an “overweight” rating and a $28.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.04.

Redwire Stock Up 0.6 %

The company has a 50 day simple moving average of $15.43 and a 200-day simple moving average of $10.17. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -18.28 and a beta of 2.17.

Insider Activity at Redwire

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the sale, the insider now owns 4,598,056 shares in the company, valued at $82,810,988.56. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 617,656 shares of company stock valued at $12,128,352. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its position in Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Redwire during the third quarter valued at $623,000. Van ECK Associates Corp bought a new position in shares of Redwire during the fourth quarter worth about $1,151,000. State Street Corp increased its holdings in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after acquiring an additional 35,519 shares during the period. Finally, Geode Capital Management LLC lifted its position in Redwire by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after purchasing an additional 30,963 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

Redwire Company 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.