Redwire Corp. (NYSE:RDW) stock surged Thursday as investor excitement surrounding the upcoming SpaceX initial public offering fueled a broad rally across space and aerospace stocks.

The Nasdaq gained 1.00%, while the S&P 500 rose 0.31%.

Investor excitement is peaking as SpaceX prepares to go public on Friday. The highly anticipated offering is expected to raise approximately $75 billion.

Technical Setup Remains Constructive

Redwire continues to trade within a longer-term uptrend. The stock remains 23.4% above its 50-day simple moving average of $13.11 and 66.8% above its 200-day simple moving average of $9.70. A bullish golden cross formed in April, reinforcing the positive trend.

However, shares remain 10.3% below their 20-day simple moving average of $18.02, indicating the stock is still consolidating after reaching a May high.

Momentum indicators suggest conditions are balanced rather than overextended. The stock’s relative strength index stands at 45.90, signaling neither overbought nor oversold conditions.

Key resistance sits near $17.50, while support is around $14.50, close to the 50-day exponential moving average.

Redwire Earnings And Analyst Outlook

The next major catalyst is Redwire’s estimated August 5 earnings report. Analysts expect a loss of 16 cents per share, improved from a loss of 41 cents a year earlier. Revenue is projected to rise to $106.96 million from $61.76 million.

Wall Street maintains a Buy consensus rating with an average price forecast of $18.75. Recent analyst actions include a Hold rating from Jefferies on June 1, a Buy rating from Canaccord Genuity on May 11, and a Buy upgrade from Truist Securities on March 9.

RDW Stock Price Activity: Redwire shares were up 8.71% at $16.16 at the time of publication on Thursday, according to Benzinga Pro data.

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