Red Cat (NASDAQ:RCAT) Trading 2.3% Higher – Time to Buy?

by · The Markets Daily

Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report)’s share price traded up 2.3% during trading on Monday . The company traded as high as $15.79 and last traded at $14.84. 27,275,470 shares were traded during mid-day trading, an increase of 77% from the average session volume of 15,452,740 shares. The stock had previously closed at $14.50.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Roth Mkm assumed coverage on Red Cat in a report on Monday. They issued a “buy” rating and a $25.00 target price for the company. Clear Str raised Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research note on Wednesday, May 6th. Needham & Company LLC lifted their price target on Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Finally, HC Wainwright started coverage on Red Cat in a research note on Wednesday, May 27th. They set a “buy” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $21.40.

Get Our Latest Stock Report on Red Cat

Red Cat Trading Up 2.3%

The firm’s 50 day moving average is $11.95 and its two-hundred day moving average is $11.43. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -21.20 and a beta of 1.23.

Red Cat (NASDAQ:RCAT – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.10). Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. The firm had revenue of $15.47 million during the quarter, compared to analyst estimates of $17.63 million. Red Cat’s revenue for the quarter was up 849.1% on a year-over-year basis. As a group, equities analysts expect that Red Cat Holdings, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Red Cat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in Red Cat by 3.0% in the 4th quarter. Arizona State Retirement System now owns 29,311 shares of the company’s stock valued at $232,000 after buying an additional 855 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Red Cat by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock valued at $1,325,000 after buying an additional 1,147 shares during the period. Advisory Services Network LLC grew its holdings in Red Cat by 5.3% in the 3rd quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock valued at $313,000 after buying an additional 1,507 shares during the period. Western Wealth Management LLC grew its holdings in Red Cat by 4.5% in the 1st quarter. Western Wealth Management LLC now owns 36,722 shares of the company’s stock valued at $481,000 after buying an additional 1,570 shares during the period. Finally, AlphaQuest LLC grew its holdings in Red Cat by 17.4% in the 3rd quarter. AlphaQuest LLC now owns 10,839 shares of the company’s stock valued at $112,000 after buying an additional 1,608 shares during the period. Hedge funds and other institutional investors own 37.97% of the company’s stock.

About Red Cat

(Get Free Report)

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.

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