Redwire (NYSE:RDW) Sets New 12-Month High – Still a Buy?

Shares of Redwire Co. (NYSE:RDW) reached a new 52-week high on Saturday . The stock traded as high as $18.49 and last traded at $18.09, with a volume of 1215083 shares. The stock had previously closed at $17.04.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RDW shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Redwire in a report on Wednesday, December 11th. Roth Mkm increased their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, B. Riley cut Redwire from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and an average target price of $10.13.

Redwire Stock Up 6.2 %

The company has a market cap of $1.20 billion, a PE ratio of -14.95 and a beta of 2.25. The stock’s 50 day moving average is $12.35 and its 200-day moving average is $8.78.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 89,870 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30. Following the transaction, the insider now owns 4,603,427 shares of the company’s stock, valued at approximately $78,212,224.73. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of institutional investors have recently bought and sold shares of RDW. Bank of New York Mellon Corp raised its stake in shares of Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after acquiring an additional 59,372 shares during the period. Rhumbline Advisers grew its holdings in Redwire by 64.7% during the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares during the last quarter. LJI Wealth Management LLC purchased a new stake in Redwire in the 2nd quarter worth about $258,000. Squarepoint Ops LLC lifted its stake in Redwire by 59.4% in the second quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock worth $511,000 after purchasing an additional 26,543 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Redwire during the second quarter valued at approximately $89,000. 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.