Redwire Corporation (RDW) stock gained in the current market after the company announced its preliminary financial results for the year ending December 31, 2021, and provided an update on Q3 2021 10-Q filing. RDW values at around $5.81 in the current market, gaining more than 9.83% from the previously closed value. The stock of RDW closed at $5.28 at the end of the previous trading session. The stock volume traded in the last trading session was around 0.506 million shares.
Highlights of the RDW preliminary revenue results
Redwire Corporation (RDW) today reported preliminary financial results for the year ending December 31, 2021, and provided an update on the status of its Form 10-Q for the quarter ended September 30, 2021.
On average, Redwire expects to earn between $135 and $140 million in GAAP revenue and $146 and $151 million in pro forma revenue in 2021.
The results show a year-on-year sales rise of almost 160 percent GAAP and 30 percent pro forma. Our contracted backlog is estimated to be between $133 million and $138 million by December 31, 2021, and our uncontracted backlog anticipates between $136 million and $138 million.
CEO is excited by the recent growth
The CEO of RDW said that they are proud of our business achievements in 2021. Meanwhile, they’re spending heavily on new technology that will impact the future of space for centuries to come. This distinctive heritage plus innovation strategy recorded significant revenue growth due to this remarkable heritage plus innovation strategy.
He further added that the Board of Directors and the Redwire team take accuracy and compliance extremely seriously. He said that they look forward to positioning Redwire for long-term success. Their plans for human expansion into space go beyond the next decade.
Impact on the stock
Redwire Corporation (RDW) gained in the current market following its preliminary revenue results became public. Investors are investing in its stock. Many institutional investors expect its future growth and have rated it a buy on its current price range. Analysts agree that investors should “buy” Redwire shares. They expect Redwire’s stock will hit $15.00 in the next year. It implies a 146.7 percent potential gain from the current price. Many retail and institutional investors own Redwire stock. Cutler Group LP and J.W. Cole Advisors Inc. are amongst the top investors.
