Redwire (NYSE:RDW) Hits New 12-Month High – What’s Next?

Redwire Co. (NYSE:RDW)’s share price hit a new 52-week high on Tuesday . The company 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.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RDW shares. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. HC Wainwright boosted their price target on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Roth Mkm increased their price objective on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Redwire Stock Down 3.0 %

The firm has a market capitalization of $1.44 billion, a P/E ratio of -17.90 and a beta of 2.17. The business’s 50 day moving average is $14.10 and its two-hundred day moving average is $9.58.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the transaction, the insider now directly owns 4,598,056 shares of the company’s stock, valued at approximately $82,810,988.56. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 267,656 shares of company stock worth $4,721,852. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

Several institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in shares of Redwire during the 3rd quarter worth $74,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire during the second quarter valued at $74,000. AQR Capital Management LLC acquired a new position in shares of Redwire in the 2nd quarter valued at $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 purchasing an additional 7,921 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in Redwire during the 3rd quarter worth about $139,000. Institutional investors and hedge funds 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.