Redwire (NYSE:RDW) Sets New 12-Month High – Time to Buy?

Redwire Co. (NYSE:RDW)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $9.07 and last traded at $9.03, with a volume of 146540 shares changing hands. The stock had previously closed at $8.52.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Alliance Global Partners raised their target price on shares of Redwire from $7.00 to $8.25 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. B. Riley upgraded Redwire from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $7.65.

Redwire Trading Down 2.2 %

The company has a market capitalization of $583.65 million, a price-to-earnings ratio of -12.36 and a beta of 1.96. The stock has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $6.01.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.15). The company had revenue of $78.11 million during the quarter, compared to analysts’ expectations of $66.86 million. On average, research analysts forecast that Redwire Co. will post -0.87 EPS for the current year.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Redwire during the 1st quarter worth $59,000. Vontobel Holding Ltd. bought a new position in Redwire in the 3rd quarter valued at about $74,000. The Manufacturers Life Insurance Company acquired a new position in Redwire during the 2nd quarter valued at about $74,000. AQR Capital Management LLC bought a new stake in shares of Redwire during the 2nd quarter worth about $89,000. Finally, Rhumbline Advisers lifted its position in Redwire by 64.7% in the second quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock worth $232,000 after purchasing an additional 12,703 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

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.