Redwire (NYSE:RDW) Hits New 12-Month High – Time to Buy?

Redwire Co. (NYSE:RDW) reached a new 52-week high on Friday . The stock traded as high as $26.66 and last traded at $25.68, with a volume of 2152430 shares changing hands. The stock had previously closed at $24.99.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RDW shares. Cantor Fitzgerald started coverage on Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 price objective for the company. Roth Mkm lifted their price objective on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. HC Wainwright lifted their price objective on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Redwire currently has a consensus rating of “Buy” and an average price target of $18.04.

Redwire Price Performance

The firm has a 50 day moving average of $17.36 and a two-hundred day moving average of $11.27. The stock has a market cap of $1.71 billion, a PE ratio of -21.23 and a beta of 2.23.

Insider Buying and Selling at Redwire

In other Redwire 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 value of $96,731.71. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 674,339 shares of company stock worth $13,439,120. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Redwire by 64.2% in the fourth quarter. Ameritas Investment Partners Inc. now owns 2,382 shares of the company’s stock valued at $39,000 after purchasing an additional 931 shares during the period. Summit Securities Group LLC acquired a new position in shares of Redwire in the fourth quarter valued at approximately $63,000. Jones Financial Companies Lllp grew its holdings in Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares during the period. US Bancorp DE acquired a new position in Redwire during the fourth quarter worth $119,000. Finally, Quantbot Technologies LP acquired a new position in Redwire during the fourth quarter worth $154,000. 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.