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JACKSONVILLE/TOKYO - Redwire Corporation (NYSE:RDW), a $2.16 billion market cap aerospace company whose stock has surged 116% over the past year, has signed a memorandum of understanding with Japanese startup SpaceData Inc. to collaborate on space technology solutions, the aerospace company announced Wednesday. According to InvestingPro data, analysts expect Redwire’s revenue to grow by 39% this year.
The agreement focuses on integrating SpaceData into Redwire’s digital ecosystem for International Space Station missions, pursuing opportunities for NASA’s Commercial Low Earth Orbit Destination projects, exploring collaborations for lunar and deep space missions, and leveraging SpaceData’s artificial intelligence for space and robotics capabilities. With a current ratio of 1.2 and moderate debt levels, Redwire appears positioned to support its expansion plans.
Redwire’s Digital Ecosystem for Mission and System Integration combines commercially available engineering tools with the company’s proprietary framework for simulation. This technology allows for hardware-in-the-loop simulation, combining real hardware components with virtual simulated environments.
SpaceData brings its ISS Simulator and Lunar Digital Twin solutions to the partnership, which enable industries to simulate hardware-based behaviors on virtual platforms. The company has demonstrated its simulator’s accuracy by applying identical commands to both physical hardware on the ISS and virtual hardware in its simulation environment.
"AI and Digital Engineering will lead the way in efficiently developing critical space infrastructure and next-generation platforms," said Shawn Buckley, Senior Vice President of Civil and International Space at Redwire, according to the press release statement. InvestingPro analysis shows the company currently trades above its Fair Value, with 12 additional ProTips available to subscribers, including detailed insights on profitability and growth prospects.
Redwire, with approximately 1,300 employees across the United States and Europe, specializes in aerospace infrastructure and autonomous systems. SpaceData focuses on democratizing space access through digital twin technologies and operating systems for space robots and stations. The company’s next earnings report is scheduled for August 6, with analysts maintaining a strong buy consensus, as revealed in the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Redwire Corporation has completed the integration of a Hammerhead spacecraft platform for an upcoming European Space Agency mission, marking a significant milestone for the company. The spacecraft, intended for the In-Orbit Demonstration and Verification mission, will now undergo system testing at Redwire’s facility in Belgium. Additionally, Redwire has announced the successful first deployment test of its Roll-Out Solar Arrays (ROSA) for NASA’s lunar Gateway project, which are set to generate 60kW of power, marking them as the most powerful ROSAs constructed to date. In corporate developments, Redwire reported the planned resignations of three board members following its acquisition of Edge Autonomy, with new directors to be appointed as part of the acquisition process.
Analyst activity has also been notable, with Canaccord Genuity initiating coverage on Redwire with a Buy rating and a $20 price target, citing the company’s growth potential and diversification into drone platforms. Cantor Fitzgerald reiterated its Overweight rating with a $28 price target, highlighting Redwire’s expanding space capabilities and improved investor sentiment. The firm also noted the potential for Redwire shares to approach valuations seen in the broader space sector. Redwire continues to focus on enhancing its space and defense technology solutions, supported by its regular acquisition strategy and collaborations with key industry partners.
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