Redwire (NYSE:RDW) Hits New 1-Year High – Here’s Why

Shares of Redwire Co. (NYSE:RDW) hit a new 52-week high on Monday . The company traded as high as $15.25 and last traded at $14.07, with a volume of 474239 shares changing hands. The stock had previously closed at $13.96.

Analyst Ratings Changes

A number of equities analysts have recently commented on RDW shares. HC Wainwright assumed coverage on Redwire in a report on Tuesday, November 26th. They set a “buy” rating and a $18.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Roth Mkm lifted their price target 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 lowered shares of Redwire from a “buy” rating to a “neutral” rating and raised their target price for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Stock Down 1.3 %

The stock has a market cap of $871.34 million, a price-to-earnings ratio of -10.82 and a beta of 2.25. The stock has a 50 day simple moving average of $9.31 and a 200 day simple moving average of $7.35.

Institutional Trading of Redwire

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in shares of Redwire by 17.2% during the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after buying an additional 2,296 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 during the last quarter. DNB Asset Management AS increased its holdings in Redwire by 23.9% during the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after purchasing an additional 7,538 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Redwire in the second quarter valued at approximately $74,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.