New York, May 28, 2026, 05:02 (EDT)
Redwire shares slipped in premarket trading Thursday, after finishing Wednesday at $24.00, up 8.9%. The move came as traders pulled back some gains from a quick rally in space stocks. Early quotes put Redwire at $23.24 to $23.27, a drop from the close, but the stock was still near highs for its recent stretch.
Redwire’s stock action this week hasn’t tracked any new company release. The focus is on a wider move in space stocks as SpaceX’s IPO looks nearer. Redwire’s investor page shows the last press release is a May 20 Army deal.
NYSE will run its regular hours Thursday, from 9:30 a.m. to 4 p.m. Eastern. Markets were closed Monday for Memorial Day on May 25.
SpaceX put out its IPO filing last week and Reuters said the valuation target is about $1.75 trillion. That move has put the focus back on smaller public space companies as they try to show they can turn demand for satellites, drones and defense gear into lasting profits.
SpaceX’s public plans have put a spotlight on space travel for investors, Peter Andersen, founder at Andersen Capital Management, told Reuters. Redwire was one of the space stocks getting strong attention from retail traders Wednesday, Reuters also said.
Space stocks moved in mixed action. Rocket Lab dropped on a volatile session, with Intuitive Machines and AST SpaceMobile climbing, Reuters said. Investors stayed interested in the group but didn’t treat all names the same.
Redwire’s recent trading comes as the company has some older news still at play. The Jacksonville-based space and defense tech firm posted Q1 revenue of $97.0 million on May 6, up 57.9% from last year. Backlog hit $498.1 million. Backlog is work already contracted but not yet filled. Book-to-bill ratio was 1.92. CEO Peter Cannito pointed to “very strong demand.” Redwire Corporation
Redwire turned in a net loss of $76.5 million for the quarter, hit by over $44 million in one-time items. Adjusted EBITDA was a loss of $9.2 million. CFO Chris Edmunds said, “we were able to reaffirm our 2026 revenue forecast” at $450 million to $500 million. Redwire Corporation
Redwire pulled in a $15 million follow-on order from the 1st Aviation Brigade, U.S. Army Aviation Center of Excellence, announced back on May 20. The deal is for Stalker uncrewed aerial systems, or drones. Defense-focused investors have been watching Redwire lately as orders like this land. Steve Adlich, president of Redwire Defense Tech, said the push is toward “operator independence.” Redwire Corporation
Redwire on Monday announced a high-eight-figure, multi-year deal from a NATO country for its Penguin Mk3 tactical uncrewed aircraft system. The company did not name the buyer. Adlich described the system as “scalable, adaptable.” Redwire said European teams will handle execution and support for the contract. Redwire Corporation
But the risk stands out. Redwire’s stock now trades above where most analysts say it should: Benzinga said the consensus target is $11.93, with the last three ratings from Canaccord Genuity, Truist Securities and Jefferies averaging $13.67. That doesn’t leave much cushion for delays, shrinking margins or loss of interest from SpaceX fans if Thursday’s regular session fails to draw new buyers.
Redwire shares face a basic question now: is the premarket dip just a cooldown after a strong run, or are traders starting to back off the broader space stock trade without fresh Redwire news?
