Redwire (NYSE:RDW) Sets New 52-Week High - Here's Why

Redwire Co. (NYSE:RDW - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $10.99 and last traded at $10.78, with a volume of 159521 shares. The stock had previously closed at $10.39.

Analysts Set New Price Targets

Several research firms recently weighed in on RDW. Alliance Global Partners lifted their price target on Redwire from $7.00 to $8.25 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.00 price target on shares of Redwire in a research note on Monday, September 30th. B. Riley lowered Redwire from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. Finally, Roth Mkm boosted their price objective on Redwire from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $8.55.

Redwire Price Performance

The firm has a fifty day simple moving average of $7.76 and a two-hundred day simple moving average of $6.66. The firm has a market capitalization of $717.97 million, a P/E ratio of -8.87 and a beta of 1.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RDW. Geode Capital Management LLC increased its position in Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock valued at $3,599,000 after buying an additional 30,963 shares in the last quarter. Barclays PLC increased its holdings in shares of Redwire by 55.8% in 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 during the last quarter. State Street Corp grew its position in Redwire by 8.1% in the third 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 in the last quarter. Stifel Financial Corp purchased a new position in Redwire in the third quarter worth about $139,000. Finally, MetLife Investment Management LLC boosted its position in shares of Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company's stock valued at $97,000 after buying an additional 7,921 shares during the period. 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.