Redwire (NYSE:RDW) Hits New 52-Week High – Here’s Why

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

Analyst Ratings Changes

A number of research firms recently weighed in on RDW. B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $9.50 to $27.00 in a research note on Monday, January 27th. Cantor Fitzgerald began coverage on Redwire in a research note on Friday, January 24th. They issued an “overweight” rating and a $28.00 price target on the stock. HC Wainwright upped their price objective on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Roth Mkm raised their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.04.

Redwire Trading Down 8.0 %

The company has a fifty day moving average price of $17.79 and a two-hundred day moving average price of $11.52. The firm has a market cap of $1.57 billion, a P/E ratio of -19.50 and a beta of 2.23.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’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 transaction, the insider now owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This represents a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 674,339 shares of company stock worth $13,439,120 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares during the period. Federated Hermes Inc. boosted its stake in shares of Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after acquiring an additional 310,769 shares during the period. EAM Global Investors LLC bought a new stake in Redwire in the 4th quarter valued at $4,689,000. Andar Capital Management HK Ltd acquired a new stake in Redwire during the 4th quarter valued at $3,621,000. Finally, EAM Investors LLC boosted its position in Redwire by 254.6% during the fourth quarter. EAM Investors LLC now owns 232,903 shares of the company’s stock worth $3,834,000 after purchasing an additional 167,219 shares during the period. 8.10% of the stock is owned by institutional investors.

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.