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Redwire Corporation (RDW) Surges 7.6%: Is This an Indication of Further Gains?
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Redwire Corporation (RDW - Free Report) shares soared 7.6% in the last trading session to close at $16.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.2% gain over the past four weeks.
Redwire’s share price rose following its strategic presentation at the Jefferies Space Summit, where it highlighted strong 30% growth, profitability, and expansion into the defense market with strategic acquisitions like Edge Autonomy. Investors must have responded positively to the company's focus on high-margin drones, VLEO operations, and commercialization of microgravity tech like Pillbox (as per a report by Investing.com).
This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +59.3%. Revenues are expected to be $106.8 million, up 36.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Redwire Corporation, the consensus EPS estimate for the quarter has been revised 88.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RDW going forward to see if this recent jump can turn into more strength down the road.
Redwire Corporation is part of the Zacks Aerospace - Defense industry. Northrop Grumman (NOC - Free Report) , another stock in the same industry, closed the last trading session 3.1% lower at $484. NOC has returned 6% in the past month.
Northrop Grumman's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $6.73. Compared to the company's year-ago EPS, this represents a change of +5.8%. Northrop Grumman currently boasts a Zacks Rank of #4 (Sell).
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Redwire Corporation (RDW) Surges 7.6%: Is This an Indication of Further Gains?
Redwire Corporation (RDW - Free Report) shares soared 7.6% in the last trading session to close at $16.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.2% gain over the past four weeks.
Redwire’s share price rose following its strategic presentation at the Jefferies Space Summit, where it highlighted strong 30% growth, profitability, and expansion into the defense market with strategic acquisitions like Edge Autonomy. Investors must have responded positively to the company's focus on high-margin drones, VLEO operations, and commercialization of microgravity tech like Pillbox (as per a report by Investing.com).
This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +59.3%. Revenues are expected to be $106.8 million, up 36.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Redwire Corporation, the consensus EPS estimate for the quarter has been revised 88.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RDW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Redwire Corporation is part of the Zacks Aerospace - Defense industry. Northrop Grumman (NOC - Free Report) , another stock in the same industry, closed the last trading session 3.1% lower at $484. NOC has returned 6% in the past month.
Northrop Grumman's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $6.73. Compared to the company's year-ago EPS, this represents a change of +5.8%. Northrop Grumman currently boasts a Zacks Rank of #4 (Sell).