Redwire (NYSE:RDW) Hits New 1-Year High – Time to Buy?

Redwire Co. (NYSE:RDW)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $14.43 and last traded at $14.43, with a volume of 62654 shares. The stock had previously closed at $13.17.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RDW. Alliance Global Partners lifted their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. Roth Mkm increased their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.50 in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.55.

Redwire Price Performance

The firm has a 50-day moving average of $8.31 and a 200-day moving average of $6.92. The stock has a market cap of $890.31 million, a PE ratio of -10.88 and a beta of 1.93.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings 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 purchasing an additional 30,963 shares during the last quarter. Barclays PLC increased its stake in Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares during the last quarter. State Street Corp increased its stake in Redwire by 8.1% in the 3rd 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 last quarter. Stifel Financial Corp purchased a new stake in shares of Redwire during the 3rd quarter worth approximately $139,000. Finally, MetLife Investment Management LLC boosted its position in shares of Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after acquiring an additional 7,921 shares during the last quarter. Institutional investors 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.