Redwire (NYSE:RDW) Hits New 12-Month High – Should You Buy?

Redwire Co. (NYSE:RDW) hit a new 52-week high during trading on Monday . The company traded as high as $15.25 and last traded at $14.07, with a volume of 474239 shares trading hands. The stock had previously closed at $13.96.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RDW shares. Roth Mkm boosted their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. HC Wainwright started coverage on Redwire in a research note on Tuesday, November 26th. They issued a “buy” rating and a $18.00 target price on the stock. 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. Finally, B. Riley downgraded Redwire from a “buy” rating to a “neutral” rating and boosted their target price for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.13.

Redwire Stock Down 2.8 %

The business has a 50-day simple moving average of $9.04 and a two-hundred day simple moving average of $7.23. The company has a market cap of $902.96 million, a price-to-earnings ratio of -11.54 and a beta of 1.93.

Hedge Funds Weigh In On Redwire

Several large investors have recently made changes to their positions in the business. Barclays PLC lifted its position in shares of Redwire by 55.8% during 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 during the last quarter. Vanguard Group Inc. lifted 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 worth $4,912,000 after purchasing an additional 3,681 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $3,599,000 after purchasing an additional 30,963 shares during the last quarter. State Street Corp lifted 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 worth $3,252,000 after purchasing an additional 35,519 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Redwire during the 3rd quarter worth about $623,000. Institutional investors and hedge funds 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.