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

Redwire Co. (NYSE:RDW - Get Free Report) hit 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 Ratings Changes

RDW has been the subject of several research reports. B. Riley cut Redwire from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Cantor Fitzgerald restated an "overweight" rating and issued a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. Roth Mkm upped their price objective on Redwire from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Redwire in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $10.13.

Redwire Price Performance

The firm's 50 day moving average is $13.86 and its 200 day moving average is $9.47. The company has a market cap of $1.49 billion, a PE ratio of -18.52 and a beta of 2.17.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 89,870 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 4,603,427 shares in the company, valued at $78,212,224.73. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 267,656 shares of company stock valued at $4,721,852 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Several large investors have recently modified their holdings of RDW. Barclays PLC lifted its stake in shares of Redwire by 55.8% in the 3rd 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 period. Geode Capital Management LLC raised its position in Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company's stock valued at $3,599,000 after purchasing an additional 30,963 shares during the period. State Street Corp boosted its stake in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company's stock worth $3,252,000 after purchasing an additional 35,519 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Redwire during the third quarter valued at approximately $623,000. Finally, Penserra Capital Management LLC grew its position in Redwire by 16.5% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

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.