Redwire Stock In Spotlight After Follow-On Contract From Orion Space Solutions For Mako Spacecraft: Retail’s On Wait-And-Watch Mode

Space infrastructure firm Redwire Corp (RDW) announced on Tuesday that Orion Space Solutions has awarded an order to deliver a Mako spacecraft to support Tetra-6, a U.S. Space Force (USSF) Space Systems Command (SSC) mission.

Redwire explained that the Tetra-6 mission is a follow-on contract to the USSF/Air Force Research Laboratory (AFRL) Tetra-5 mission. Redwire is delivering two Mako spacecraft for the same.

The company highlighted that the Mako spacecraft for the Tetra-5 and Tetra-6 missions will be the first satellite in geosynchronous orbit (GEO) to be refueled and demonstrate compatibility with multiple available refueling mechanisms.

While Tetra-5 will demonstrate key capabilities such as cooperative and prepared inspection, docking, on-orbit refueling, proximity operations, and next-generation autonomy techniques, Tetra-6 will enable the USSF to demonstrate additional technological capabilities.

Redwire offers five spacecraft platforms: Mako, Thresher, Hammerhead, SabreSat, and Phantom.

The company recently announced that it will acquire Edge Autonomy, a provider of field-proven uncrewed airborne system (UAS) technology, for $925 million on a debt-free, cash-free basis. The transaction will be subject to customary working capital, cash and debt adjustments, it said.

Of the total price, $150 million is expected to be paid in cash, while $775 million would be paid in shares of Redwire common stock.

The combined company is expected to report revenues of $535 million—$605 million and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $70 million—$105 million with positive free cash flow, assuming the transaction had been consummated on Jan. 1, 2025.

Meanwhile, on Stocktwits, retail sentiment continued to trend in the ‘neutral’ territory (48/100).

RDW’s Sentiment Meter and Message Volume as of 9:07 a.m. ET on Feb. 11, 2025 | Source: Stocktwits

According to The Fly, B. Riley analyst Mike Crawford upgraded Redwire stock to ‘Buy’ from ‘Neutral’ last month, raising the price target to $27 from $9.50.

Shares of Redwire have gained over 38% this year and have risen nearly 663% over the past year.

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