Red Cat (NASDAQ:RCAT) Hits New 12-Month High – Time to Buy?
by Scott Moore · The Cerbat GemRed Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $17.30 and last traded at $17.17, with a volume of 8956739 shares traded. The stock had previously closed at $15.61.
Analyst Ratings Changes
Several analysts have issued reports on RCAT shares. Wall Street Zen cut Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Needham & Company LLC raised their price target on shares of Red Cat from $12.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Northland Securities set a $22.00 price objective on shares of Red Cat in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a report on Thursday, December 18th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $19.00.
Read Our Latest Analysis on Red Cat
Red Cat Trading Up 14.7%
The company has a market cap of $2.14 billion, a PE ratio of -40.77 and a beta of 1.48. The firm’s 50-day simple moving average is $9.05 and its two-hundred day simple moving average is $9.77.
Red Cat (NASDAQ:RCAT – Get Free Report) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share (EPS) 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 predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.
Institutional Investors Weigh In On Red Cat
A number of institutional investors and hedge funds have recently modified their holdings of RCAT. IFP Advisors Inc raised its position in 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 buying an additional 1,720 shares during the last quarter. Montag A & Associates Inc. raised its holdings in shares of 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. Bank of America Corp DE lifted its position in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after purchasing an additional 2,727 shares during the period. Global Retirement Partners LLC purchased a new stake in Red Cat in the third quarter valued at $36,000. Finally, Penserra Capital Management LLC acquired a new stake in Red Cat during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 37.97% of the company’s stock.
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.