Redwire (NYSE:RDW) Reaches New 52-Week High – Still a Buy?

Redwire Co. (NYSE:RDW) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.79 and last traded at $18.17, with a volume of 1641395 shares changing hands. The stock had previously closed at $14.75.

Wall Street Analyst Weigh In

RDW has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Redwire in a research note on Wednesday, December 11th. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and increased their target price for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. Finally, 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Redwire has an average rating of “Moderate Buy” and an average target price of $10.13.

Redwire Price Performance

The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -16.22 and a beta of 2.17. The firm has a 50 day moving average price of $13.86 and a 200-day moving average price of $9.47.

Insider Buying and Selling at Redwire

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the completion of the sale, the insider now owns 4,598,056 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 267,656 shares of company stock valued at $4,721,852. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in shares of Redwire during the third quarter worth approximately $74,000. The Manufacturers Life Insurance Company purchased a new position in Redwire during the 2nd quarter worth $74,000. AQR Capital Management LLC purchased a new position in Redwire during the 2nd quarter worth $89,000. MetLife Investment Management LLC increased its stake in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the period. Finally, Stifel Financial Corp purchased a new stake in shares of Redwire in the third quarter valued at about $139,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.