Redwire (NYSE:RDW) Hits New 1-Year High – Time to Buy?

Redwire Co. (NYSE:RDW) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.79 and last traded at $18.17, with a volume of 1641395 shares trading hands. The stock had previously closed at $14.75.

Analyst Ratings Changes

Several brokerages recently issued reports on RDW. Roth Mkm lifted their price objective on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. HC Wainwright lifted their price target on Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and increased their price objective for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Redwire Trading Down 3.0 %

The firm has a market cap of $1.44 billion, a PE ratio of -17.90 and a beta of 2.17. The stock’s 50 day moving average price is $14.10 and its 200 day moving average price is $9.58.

Insider Transactions at Redwire

In related news, major shareholder Park Lp Genesis II sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.02, for a total value of $1,802,000.00. Following the completion of the transaction, the insider now owns 4,322,853 shares of the company’s stock, valued at approximately $77,897,811.06. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have sold 267,656 shares of company stock valued at $4,721,852. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arkadios Wealth Advisors acquired a new stake in shares of Redwire during the 4th quarter valued at approximately $165,000. Brookstone Capital Management bought a new stake in Redwire during the fourth quarter valued at $329,000. Geode Capital Management LLC raised its holdings in shares of Redwire by 6.3% during the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after purchasing an additional 30,963 shares during the period. Barclays PLC lifted its position 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 buying an additional 422,854 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the period. Institutional investors 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.