Redwire Stock Surges Thursday: What's Happening?

Redwire Corp (NYSE: RDW ) shares are trading higher Thursday after reporting second-quarter financial results featuring better-than-expected sales performance. Redwire stock is charging ahead with explosive momentum. What’s fueling RDW momentum? Strong Revenue Growth and Wall Street Upgrade Drives Momentum The space and defense technology firm posted second-quarter revenue of $117.07 million, up 89.6% year-over-year and surpassing Wall Street estimates of $107.30 million. Earnings per share came in at a loss of 19 cents per share, slightly missing expectations of a loss of 15 cents. Cantor Fitzgerald analyst Colin Canfield maintained an Overweight rating on Redwire stock while raising his price target from $9.00 to $13.50 this week. Jefferies also increased its price target from $13 to $24 in June, while moving to a Hold rating. Management Highlights Record Backlog and Reaffirms...