Redwire (NYSE:RDW) Sets New 1-Year High – Here’s Why

Redwire Co. (NYSE:RDW)’s share price reached a new 52-week high during trading on Saturday . The company traded as high as $18.49 and last traded at $18.09, with a volume of 1215083 shares. The stock had previously closed at $17.04.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RDW. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price target on shares of Redwire in a report on Monday, September 30th. B. Riley lowered shares of 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 research note on Tuesday, October 29th. Roth Mkm boosted their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Redwire in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and an average target price of $10.13.

Redwire Stock Performance

The stock has a market cap of $1.20 billion, a PE ratio of -14.95 and a beta of 2.25. The company’s 50-day moving average price is $12.35 and its 200 day moving average price is $8.78.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 89,870 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the completion of the sale, the insider now owns 4,603,427 shares of the company’s stock, valued at approximately $78,212,224.73. The trade was 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. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RDW. The Manufacturers Life Insurance Company purchased a new position in Redwire during the second quarter valued at approximately $74,000. Vontobel Holding Ltd. purchased a new position in shares of Redwire during the 3rd quarter valued at $74,000. AQR Capital Management LLC bought a new position in Redwire in the 2nd quarter worth $89,000. MetLife Investment Management LLC increased its stake in Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after buying an additional 7,921 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in Redwire during the third quarter valued at about $139,000. 8.10% of the stock is currently owned by institutional investors.

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.