Redwire Corporation (NYSE:RDW) shares rose on Wednesday after the company signed a memorandum of understanding with EnduroSat to pursue European government, defense and commercial space infrastructure projects.
EnduroSat is a space company that builds standardized, software-flexible satellites and offers constellation-as-a-service solutions.
The agreement pairs Redwire’s spacecraft systems, power technologies and prime-contractor experience with EnduroSat’s high-volume satellite manufacturing capabilities.
• Redwire stock is among today’s top performers. Why is RDW stock up today?
Redwire, EnduroSat Target European Space Projects
The companies plan to pursue opportunities in Very Low Earth Orbit operations for national defense, EU-based orbital data centers and next-generation positioning, navigation and timing constellations.
Redwire would contribute power systems, deep-space avionics, and experience leading multinational missions, while EnduroSat would provide serial spacecraft production and constellation-deployment capabilities.
Redwire’s European programs include the European Space Agency’s Skimsat VLEO technology demonstrator and Belgian Defence’s MATTEO security satellite. The company is also involved in ESA’s Σyndeo-3 mission.
“The partnership with EnduroSat will help European customers field the space capabilities they need,” said Marc Dielissen, director general of Redwire Space Europe.
EnduroSat CTO Victor Danchev said combining Redwire’s experience on major European and U.S. missions with EnduroSat’s satellite production capabilities could give customers “the confidence and the speed to scale they require.”
Technical Setup Remains Weak
Redwire remains technically weak, trading 14.3% below its 20-day SMA of $10.00 and 21.5% below its 50-day SMA of $10.92.
RSI stands at 28.87, placing the stock in oversold territory, while MACD remains below its signal line, pointing to continued bearish momentum.
Key support sits near $8, with resistance around $9. Holding support could stabilize the stock, while a break below that level would further weaken the setup.
Redwire formed a Death Cross in October, when its 50-day SMA moved below its 200-day SMA, reinforcing the broader downtrend.
Shares are down 7.47% over the past 12 months and trade at about 17% of their 52-week range, leaving the stock much closer to its lows than its highs.
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Earnings and Analyst Outlook
Redwire is expected to report earnings on Nov. 4.
Analysts estimate a loss of 12 cents per share, down from 29 cents a year earlier, on revenue of $125.48 million, up from $103.43 million.
The stock carries a Hold consensus rating with an average price target of $14.30.
Piper Sandler initiated coverage with a Neutral rating and a $11 forecast on Oct. 15. Guggenheim initiated coverage with a Neutral rating on Sept. 15, while Bank of America Securities maintained an Underperform rating and raised its forecast to $8 on Aug. 31.
RDW Stock Price Activity: Redwire shares were up 3.07% at $8.56 at the time of publication on Wednesday, according to Benzinga Pro data.
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