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

Redwire Co. (NYSE:RDW)’s stock price hit a new 52-week high on Saturday . The company traded as high as $18.49 and last traded at $18.09, with a volume of 1215083 shares changing hands. The stock had previously closed at $17.04.

Analyst Ratings Changes

RDW has been the topic of a number of research analyst reports. Roth Mkm increased their price objective on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price target on shares of Redwire in a report on Monday, September 30th. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Redwire in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Stock Performance

The company has a 50-day moving average price of $12.35 and a 200-day moving average price of $8.76. The firm has a market capitalization of $1.20 billion, a P/E ratio of -14.95 and a beta of 2.25.

Insiders Place Their Bets

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $16.99, for a total value of $1,526,891.30. Following the completion of the transaction, the insider now owns 4,603,427 shares of the company’s stock, valued at $78,212,224.73. The trade was a 1.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new position in shares of Redwire during the 3rd quarter valued at about $74,000. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire during the second quarter worth $74,000. AQR Capital Management LLC acquired a new stake in shares of Redwire during the second quarter worth $89,000. MetLife Investment Management LLC lifted its position in 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 acquiring an additional 7,921 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in Redwire in the 3rd quarter worth $139,000. 8.10% of the stock is currently 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.