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

Redwire Co. (NYSE:RDW - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $18.79 and last traded at $18.17, with a volume of 1641395 shares. The stock had previously closed at $14.75.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RDW. HC Wainwright upped their target price on shares of Redwire from $18.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $6.00 price target on shares of Redwire in a research note on Monday, September 30th. Roth Mkm increased their price target on shares of Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, B. Riley downgraded shares of 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 research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Redwire currently has an average rating of "Moderate Buy" and a consensus price target of $11.46.

Redwire Stock Performance

The stock's fifty day moving average price is $14.10 and its 200-day moving average price is $9.58. The firm has a market cap of $1.44 billion, a PE ratio of -17.79 and a beta of 2.17.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.02, for a total transaction of $1,802,000.00. Following the sale, the insider now directly owns 4,322,853 shares of the company's stock, valued at $77,897,811.06. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 267,656 shares of company stock worth $4,721,852. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Several hedge funds have recently modified their holdings of RDW. Barclays PLC lifted its position in shares of Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company's stock worth $8,115,000 after purchasing an additional 422,854 shares in the last quarter. Geode Capital Management LLC raised its holdings in Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock valued at $3,599,000 after acquiring an additional 30,963 shares in the last quarter. State Street Corp raised its holdings in Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company's stock valued at $3,252,000 after acquiring an additional 35,519 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Redwire in the third quarter valued at $623,000. Finally, Penserra Capital Management LLC raised its holdings in Redwire by 16.5% in the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company's stock valued at $512,000 after acquiring an additional 10,558 shares in the last quarter. 8.10% of the stock is 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.