Redwire Corporation’s (NYSE:RDW) low stock price and efforts to boost performance could make the stock attractive enough to be on your radar. The stock closed over 48% higher on Wednesday and has surged about 77% year-to-date. This space infrastructure company provides civil, commercial, and security-critical solutions.
The space infrastructure market is slowly gaining momentum, which points to a bright future for the Redwire stock. Further, the company has undertaken several acquisitions in the past three years in order to expand its geographical expansion and bolster its offerings.
Last October, the company made progress in developing the Optical Metrology Network In-situ, i.e., a touchless metrology system designed to give the user real-time knowledge of a large object’s shape.
Is RDW Stock a Good Buy?
The company continues to generate a backlog, which reflects well on its top-line growth. Also, the increased U.S. government budget remains another positive factor. Nevertheless, a shortage of space talent and supply chain disruptions may stall the company’s growth to some extent.
Our data shows that insiders bought RDW stock worth $347.4k last quarter. Overall, RDW stock scores six on TipRanks’ Smart Score system, implying performance in line with market averages.
