Redwire (NYSE:RDW) Hits New 1-Year High – Still a Buy?

Redwire Co. (NYSE:RDW) hit a new 52-week high during mid-day trading 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.

Analyst Upgrades and Downgrades

RDW has been the subject of several recent research reports. Roth Mkm increased their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. HC Wainwright lifted 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. Cantor Fitzgerald began coverage on Redwire in a research report on Friday, January 24th. They set an “overweight” rating and a $28.00 price objective for the company. Finally, B. Riley raised Redwire from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.50 to $27.00 in a research report on Monday, January 27th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.04.

Redwire Trading Down 8.0 %

The company has a market cap of $1.57 billion, a P/E ratio of -19.50 and a beta of 2.23. The company’s 50-day moving average price is $17.79 and its two-hundred day moving average price is $11.52.

Insider Buying and Selling at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the sale, the insider now owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 674,339 shares of company stock worth $13,439,120. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RDW. Quarry LP bought a new position in Redwire during the 4th quarter valued at about $33,000. Ameritas Investment Partners Inc. grew its position in Redwire by 64.2% during the 4th quarter. Ameritas Investment Partners Inc. now owns 2,382 shares of the company’s stock worth $39,000 after acquiring an additional 931 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Redwire during the 4th quarter valued at $63,000. Jones Financial Companies Lllp boosted its stake in Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of Redwire during the third quarter worth $74,000. 8.10% of the stock is 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.