Redwire (NYSE:RDW) Hits New 52-Week High – Still a Buy?

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

Wall Street Analyst Weigh In

Several research firms have issued reports on RDW. Roth Mkm lifted their price target 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. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Redwire in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.13.

Redwire Stock Down 1.1 %

The stock has a market capitalization of $991.46 million, a PE ratio of -12.31 and a beta of 2.25. The stock’s 50-day moving average is $11.17 and its 200 day moving average is $8.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new stake in Redwire in the second quarter worth $74,000. Vontobel Holding Ltd. acquired a new stake in Redwire in the 3rd quarter worth approximately $74,000. AQR Capital Management LLC bought a new stake in Redwire during the second quarter worth approximately $89,000. MetLife Investment Management LLC raised its position in shares of Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Redwire in the third quarter worth $139,000. Hedge funds and other institutional investors 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.