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Redwire Corp. (NYSE:RDW) stock edged higher in Wednesday's premarket trading after the space and defense technology company secured a follow-on order from the U.S. Army Aviation Center of Excellence (AVCOE).
The latest order adds to Redwire's recent contract wins across defense and space programs.
The order will support the Army's fleet of combat-tested Stalker drones as it modernizes operations in contested airspace.
Under the agreement, Redwire will supply maintenance parts, including U.S.-assembled hybrid lift batteries, to the 2nd Battalion, 13th Aviation Regiment at Fort Huachuca, Arizona.
The equipment will support advanced training for Army drone operators using mission-ready aircraft.
Joshua Stinson, co-president and chief growth officer at Redwire Defense Tech, said the program helps soldiers train on aircraft they may later deploy in combat.
Redwire's Stalker training programs draw on hundreds of thousands of flight hours across six continents, including operations in extreme weather and contested environments.
The aircraft have also supported the U.S. Army, Marine Corps and other military programs.
On Tuesday, Redwire secured a nearly $40 million award to supply a power generation system for NASA's planned moon base.
On Nov. 5, the company also won a $20 million contract from the Defense Advanced Research Projects Agency (DARPA). The contract covers additional testing of Redwire's scaled SabreSat spacecraft ahead of a planned flight test in very low Earth orbit under DARPA's Otter program.
Redwire reported mixed third-quarter results on Nov. 4.
Revenue reached $109.04 million, missing Wall Street's estimate of $125.48 million.
However, the company reported a loss of 6 cents per share, narrower than the expected loss of 12 cents.
Redwire ended the quarter with a record backlog of $619.7 million, up nearly 75% year over year.
The company also reaffirmed its 2026 revenue forecast of $450 million to $500 million.
Redwire carries a consensus Hold rating with an average price forecast of $13.42.
Several analysts lowered their price forecasts on Nov. 6 following the quarterly results.
Canaccord Genuity maintained its Buy rating but reduced its price forecast to $13.
B. Riley Securities also maintained a Buy rating while cutting its forecast to $14.
Meanwhile, Piper Sandler maintained its Neutral rating and lowered its price forecast to $8.
RDW Price Action: Redwire shares were up 3.07% at $8.37 during premarket trading on Wednesday, according to market data.
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