Redwire (NYSE:RDW) Reaches New 12-Month High on Analyst Upgrade

Shares of Redwire Co. (NYSE:RDW - Get Free Report) reached a new 52-week high during trading on Monday after Roth Mkm raised their price target on the stock from $10.00 to $13.00. Roth Mkm currently has a buy rating on the stock. Redwire traded as high as $9.48 and last traded at $9.48, with a volume of 21251 shares changing hands. The stock had previously closed at $9.02.

Several other research firms also recently issued reports on RDW. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $6.00 price objective on shares of Redwire in a report on Monday, September 30th. Alliance Global Partners increased their price objective on shares of Redwire from $7.00 to $8.25 and gave the company a "buy" rating in a report on Tuesday, July 30th. Finally, B. Riley downgraded shares of Redwire from a "buy" rating to a "neutral" rating and increased their price objective for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $8.55.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its stake in shares of Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company's stock worth $112,000 after buying an additional 2,296 shares in the last quarter. Vanguard Group Inc. raised its stake in Redwire by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company's stock worth $4,912,000 after purchasing an additional 3,681 shares during the period. DNB Asset Management AS raised its stake in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company's stock worth $280,000 after purchasing an additional 7,538 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Redwire during the second quarter worth about $74,000. Finally, Vontobel Holding Ltd. purchased a new position in Redwire during the third quarter worth about $74,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Price Performance

The business's 50 day simple moving average is $7.36 and its 200 day simple moving average is $6.43. The company has a market capitalization of $690.64 million, a PE ratio of -8.52 and a beta of 1.93.

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.