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

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

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of research reports. Roth Mkm boosted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research note on Monday, September 30th. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and raised their price objective for the company from $8.00 to $9.50 in a research report on Tuesday, October 29th. Finally, Alliance Global Partners increased their price objective on Redwire from $7.00 to $8.25 and gave the stock 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.55.

Redwire Stock Performance

The company has a market cap of $739.92 million, a PE ratio of -9.29 and a beta of 1.93. The stock’s 50 day moving average price is $7.76 and its 200-day moving average price is $6.66.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its holdings in shares of Redwire by 17.2% in the second quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock worth $112,000 after purchasing an additional 2,296 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Redwire by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after buying an additional 3,681 shares during the period. DNB Asset Management AS grew its position in shares of Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after buying an additional 7,538 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Redwire during the second quarter valued at approximately $74,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.