Why Redwire Corporation Stock Keeps Going Up
Key Points
Redwire won two drone contracts this week, worth tens of millions of dollars combined.
The company also awarded a subcontract to its space station partner Voyager Technologies.
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Redwire Corporation (NYSE: RDW) stock is on a roll -- in more ways than one.
For three days running, shares of the aerospace-space-and-defense company have hit successively higher highs, including an 12.2% run-up through 10:15 a.m. ET this morning. Driving the share price gains is Redwire's business success, and a series of contract awards announced over the past few days.
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Redwire on Earth
Redwire started its life as a pure-play space stock, building equipment necessary to create an industrial infrastructure in space. In 2025, however, the company came down to Earth just a bit, spending $925 million to acquire Edge Autonomy, and turning itself into a drones stock in the process.
This move is already paying off.
So far this week, Redwire has booked two separate drone contracts totaling tens of millions of dollars. For $15 million, Redwire will supply a third batch of Stalker surveillance UAVs to the U.S. Army's 1st Aviation Brigade, bringing total orders to $24.8 million over the last eight months.
In a separate award worth "high eight-figures" (i.e., tens of millions of dollars) over a "multi-year" period, Redwire will supply Penguin Mk3 drones to an unidentified NATO ally.
Redwire in space
Redwire's third contract news of the past three days returns to its roots as a space company -- this time as a prime contractor on the DARPA "Otter" program developing air-breathing spaceplanes that can operate at very low Earth orbit (VLEO), and maneuver in and partially refuel by "breathing" in the air of Earth's upper atmosphere.
Redwire will hire Voyager Technologies (NYSE: VOYG) as a subcontractor to help execute its DARPA contract. Voyager will supply a "high-precision Acceleration Measurement System (AMS)" that helps Redwire's spaceplane maneuver in VLEO.
The contract brings no more money for Redwire -- but does help ensure mission success.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Redwire. The Motley Fool has a disclosure policy.
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