Redwire (NYSE:RDW) Hits New 12-Month High - Still a Buy?

Redwire Co. (NYSE:RDW - Get Free Report)'s share price hit a new 52-week high on Friday . The company traded as high as $26.66 and last traded at $25.68, with a volume of 2152430 shares changing hands. The stock had previously closed at $24.99.

Analysts Set New Price Targets

Several research firms have issued reports on RDW. Cantor Fitzgerald started coverage on Redwire in a report on Friday, January 24th. They set an "overweight" rating and a $28.00 price objective on the stock. B. Riley raised Redwire from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Roth Mkm raised their price target on Redwire from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, HC Wainwright boosted their price objective on Redwire from $18.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $18.04.

Redwire Stock Performance

The company has a 50-day moving average price of $18.02 and a 200-day moving average price of $11.67. The firm has a market capitalization of $1.57 billion, a P/E ratio of -19.50 and a beta of 2.23.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 89,870 shares of the 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 sale, the insider now directly owns 4,603,427 shares in the company, valued at approximately $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 674,339 shares of company stock worth $13,439,120. Insiders own 2.60% of the company's stock.

Institutional Trading of Redwire

A number of large investors have recently made changes to their positions in RDW. Quarry LP acquired a new stake in Redwire during the 4th quarter worth approximately $33,000. Summit Investment Advisors Inc. increased its position in shares of Redwire by 64.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock worth $39,000 after acquiring an additional 931 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Redwire during the fourth quarter worth $63,000. Jones Financial Companies Lllp lifted its position in Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock valued at $72,000 after acquiring an additional 1,372 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in Redwire in the 3rd quarter worth $74,000. Institutional investors own 8.10% of the company's stock.

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.