Redwire (NYSE:RDW) Hits New 12-Month High – Time to Buy?

Shares of Redwire Co. (NYSE:RDW) hit a new 52-week high on Friday . The company traded as high as $26.66 and last traded at $25.68, with a volume of 2152430 shares. The stock had previously closed at $24.99.

Analyst Ratings Changes

Several research firms have weighed in on RDW. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.50 to $27.00 in a report on Monday, January 27th. HC Wainwright upped their target price on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald initiated coverage on Redwire in a report on Friday, January 24th. They issued an “overweight” rating and a $28.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.04.

Redwire Price Performance

The company has a 50-day moving average price of $17.36 and a 200-day moving average price of $11.27. The firm has a market capitalization of $1.71 billion, a PE ratio of -21.23 and a beta of 2.23.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $23.20, for a total transaction of $1,160,000.00. Following the completion of the sale, the insider now directly owns 3,754,041 shares in the company, valued at $87,093,751.20. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 674,339 shares of company stock worth $13,439,120. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Ameritas Investment Partners Inc. increased its stake in Redwire by 64.2% during the fourth 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 shares of Redwire in the fourth quarter valued at about $63,000. Jones Financial Companies Lllp grew its stake in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Redwire in the third quarter valued at about $74,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire in the second quarter valued at about $74,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.