Red Cat (NASDAQ:RCAT) Stock Price Up 6.5% – What’s Next?
by Scott Moore · The Cerbat GemRed Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) shares shot up 6.5% on Thursday . The stock traded as high as $13.13 and last traded at $12.94. 15,011,569 shares traded hands during trading, a decline of 10% from the average session volume of 16,589,801 shares. The stock had previously closed at $12.15.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research note on Thursday, January 22nd. LADENBURG THALM/SH SH boosted their price objective on shares of Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Northland Securities set a $22.00 price target on Red Cat in a research note on Tuesday, January 20th. Needham & Company LLC upped their price objective on Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Finally, Wall Street Zen raised shares of Red Cat from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Red Cat currently has an average rating of “Hold” and a consensus target price of $20.67.
Read Our Latest Report on RCAT
Red Cat Stock Performance
The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -17.25 and a beta of 1.46. The business has a 50-day moving average price of $13.76 and a two-hundred day moving average price of $11.46.
Red Cat (NASDAQ:RCAT – Get Free Report) last issued its quarterly earnings data on Wednesday, March 18th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Red Cat had a negative return on equity of 38.86% and a negative net margin of 176.96%.The business had revenue of $26.24 million during the quarter, compared to the consensus estimate of $24.50 million. On average, equities research analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Red Cat
Institutional investors have recently made changes to their positions in the business. State Street Corp raised its holdings in Red Cat by 136.4% in the 4th quarter. State Street Corp now owns 6,612,153 shares of the company’s stock valued at $52,434,000 after acquiring an additional 3,815,310 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Red Cat by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock valued at $47,580,000 after acquiring an additional 493,660 shares during the period. Geode Capital Management LLC boosted its stake in shares of Red Cat by 13.4% in the 4th quarter. Geode Capital Management LLC now owns 2,520,524 shares of the company’s stock valued at $19,991,000 after purchasing an additional 297,967 shares in the last quarter. AWM Investment Company Inc. grew its holdings in shares of Red Cat by 15.3% in the 2nd quarter. AWM Investment Company Inc. now owns 2,037,616 shares of the company’s stock worth $14,834,000 after purchasing an additional 269,942 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Red Cat in the 3rd quarter worth about $19,739,000. 37.97% of the stock is currently owned by institutional investors.
About Red Cat
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.