Redwire (NYSE:RDW) Reaches New 1-Year High – Here’s What Happened

Redwire Co. (NYSE:RDW)’s share price reached a new 52-week high on Thursday . The company traded as high as $15.30 and last traded at $15.30, with a volume of 27385 shares changing hands. The stock had previously closed at $15.07.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Redwire in a report on Wednesday, December 11th. 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 note on Tuesday, October 29th. Roth Mkm raised their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Stock Performance

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -14.15 and a beta of 2.25. The business’s 50 day moving average is $11.52 and its 200-day moving average is $8.38.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of RDW. Vontobel Holding Ltd. acquired a new stake in Redwire in the 3rd quarter worth $74,000. The Manufacturers Life Insurance Company acquired a new stake in Redwire in the 2nd quarter worth $74,000. AQR Capital Management LLC acquired a new stake in Redwire in the 2nd quarter worth $89,000. 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 in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Redwire during the 3rd quarter valued at about $139,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.