Should You Buy Redwire Stock Below $13?

Redwire Corporation surged past $13 after beating Q2 earnings expectations with $117M in sales and improving gross margins to 27.8%. The company has a strong $542M backlog and projects 49% sales growth. However, the stock remains overvalued at 7.9x trailing sales compared to historical 2x-4x multiples for unprofitable space startups. Analysts expect the company won't reach profitability until 2028 or later, requiring $700M+ in revenue. The analyst recommends waiting for the stock to drop to $8 or below before buying.