Red Cat (NASDAQ:RCAT) Trading Up 11.2% – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares rose 11.2% on Thursday . The stock traded as high as $18.02 and last traded at $17.36. Approximately 23,355,225 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 17,868,811 shares. The stock had previously closed at $15.61.

Wall Street Analyst Weigh In

RCAT has been the subject of several analyst reports. Northland Securities set a $22.00 price objective on Red Cat in a research note on Tuesday. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research report on Thursday, December 18th. Needham & Company LLC lifted their price objective on Red Cat from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Red Cat has an average rating of “Buy” and a consensus price target of $19.00.

Red Cat Stock Up 11.2%

The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -39.45 and a beta of 1.48. The business’s 50-day moving average is $9.05 and its two-hundred day moving average is $9.77.

Red Cat (NASDAQ:RCAT) last released its earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $9.65 million for the quarter, compared to analyst estimates of $8.18 million. As a group, analysts forecast that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of Red Cat

Several large investors have recently added to or reduced their stakes in RCAT. IFP Advisors Inc raised its holdings in shares of Red Cat by 181.1% during the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after acquiring an additional 1,720 shares during the period. Montag A & Associates Inc. increased its position in Red Cat by 552.0% during the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock worth $34,000 after purchasing an additional 2,760 shares during the last quarter. California State Teachers Retirement System purchased a new position in Red Cat during the second quarter worth about $34,000. Global Retirement Partners LLC acquired a new position in Red Cat in the 3rd quarter valued at about $36,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Red Cat by 28,681.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company’s stock valued at $44,000 after purchasing an additional 6,023 shares during the last quarter. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Company Profile

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.