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

Redwire Co. (NYSE:RDW)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $10.99 and last traded at $10.78, with a volume of 159521 shares traded. The stock had previously closed at $10.39.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Roth Mkm lifted their target price on shares of Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price objective on shares of Redwire in a research report on Monday, September 30th. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. Finally, Alliance Global Partners boosted their price objective on shares of Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.55.

Redwire Trading Up 7.5 %

The firm has a market cap of $773.54 million, a PE ratio of -9.61 and a beta of 1.93. The firm’s 50 day simple moving average is $7.86 and its 200 day simple moving average is $6.70.

Institutional Trading of Redwire

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted 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 purchasing an additional 422,854 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 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 buying an additional 3,681 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after buying an additional 30,963 shares in the last quarter. State Street Corp raised its position in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Redwire during the 3rd quarter valued at about $623,000. 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.