Stock Track | Redwire Soars 5.10% Intraday on $15 Million Army Contract and DARPA Program News

Stock Track05-21 01:53

Redwire Corp.'s stock price soared 5.10% during intraday trading on Wednesday, following the announcement of significant new contract awards.

The surge appears to be driven by the company securing a $15 million follow-on order from the 1st Aviation Brigade, US Army Aviation Center of Excellence for its Stalker unmanned aerial systems. This marks the third order from this customer in the past eight months, bringing the total value of recent orders to $24.8 million. The systems will be used to support advanced individual training for Army tactical unmanned aircraft specialists.

Additionally, Redwire's role as the prime contractor for the DARPA Otter program has drawn attention, with the company awarding a subcontract to Voyager Technologies to supply a high-precision Acceleration Measurement System for the mission. These developments highlight Redwire's expanding defense and aerospace portfolio, which investors are viewing positively.

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