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

Redwire Co. (NYSE:RDW)’s share price reached a new 52-week high on Monday . The company traded as high as $14.43 and last traded at $14.43, with a volume of 62654 shares. The stock had previously closed at $13.17.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Roth Mkm upped their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and upped their price objective for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Finally, Alliance Global Partners increased their price target on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.55.

Redwire Stock Up 1.6 %

The company’s 50 day simple moving average is $8.31 and its 200-day simple moving average is $6.92. The firm has a market cap of $890.31 million, a P/E ratio of -10.88 and a beta of 1.93.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in shares of Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after purchasing an additional 2,296 shares during the period. Vanguard Group Inc. raised its position in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after purchasing an additional 3,681 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after buying an additional 7,538 shares during the period. MetLife Investment Management LLC grew its position in shares of Redwire by 129.1% during 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, The Manufacturers Life Insurance Company purchased a new position in shares of Redwire during the second quarter valued at $74,000. 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.