Redwire Corporation secured a multi-year, high eight-figure contract from an undisclosed NATO ally for its Penguin Mk3 tactical drones. This agreement follows a recent $15 million U.S. Army order to expand the company’s defense sector presence.
RDW shares reached the mid-$15 range following the news. The stock closed at $15.15 on May 22 after a 1.24% consolidation pullback.
Analysts at Canaccord and Jefferies raised their price targets for the firm. The revisions cite record backlog levels and improved revenue visibility.