Redwire (NYSE:RDW) Reaches New 12-Month High – Here’s Why

Redwire Co. (NYSE:RDW) hit a new 52-week high during trading on Tuesday . The company traded as high as $24.52 and last traded at $21.68, with a volume of 3409313 shares traded. The stock had previously closed at $21.24.

Analysts Set New Price Targets

A number of brokerages recently commented on RDW. HC Wainwright raised their price target on Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Roth Mkm lifted their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.50 to $27.00 in a research report on Monday. Finally, Cantor Fitzgerald initiated coverage on Redwire in a research report on Friday. 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 MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.04.

Redwire Price Performance

The company has a market capitalization of $1.44 billion, a P/E ratio of -17.91 and a beta of 2.17. The company has a fifty day moving average price of $14.78 and a two-hundred day moving average price of $9.89.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the sale, the insider now directly owns 4,598,056 shares in the company, valued at approximately $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 517,656 shares of company stock worth $9,855,352. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after purchasing an additional 422,854 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Redwire by 6.3% in the third quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after acquiring an additional 30,963 shares during the period. State Street Corp lifted its stake in shares of Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after acquiring an additional 35,519 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Redwire in the third quarter worth approximately $623,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Redwire by 16.5% in the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after acquiring an additional 10,558 shares during the period. 8.10% of the stock is currently owned by institutional investors.

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.