Red Cat (NASDAQ:RCAT) Trading 6.9% Higher – What’s Next?
by Renee Jackson · The Cerbat GemRed Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report)’s stock price traded up 6.9% during mid-day trading on Thursday . The stock traded as high as $15.23 and last traded at $14.74. 22,769,209 shares traded hands during trading, an increase of 46% from the average session volume of 15,590,560 shares. The stock had previously closed at $13.79.
Analyst Ratings Changes
RCAT has been the topic of a number of recent research reports. UBS Group began coverage on Red Cat in a research report on Wednesday, May 27th. They set a “buy” rating on the stock. Roth Mkm started coverage on Red Cat in a research report on Monday, June 1st. They issued a “buy” rating and a $25.00 price objective for the company. HC Wainwright assumed coverage on Red Cat in a report on Wednesday, May 27th. They set a “buy” rating and a $20.00 price objective on the stock. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC raised their target price on Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $21.40.
Get Our Latest Stock Analysis on Red Cat
Red Cat Stock Down 14.0%
The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -18.11 and a beta of 1.23. The company’s 50-day moving average is $11.86 and its 200-day moving average is $11.63.
Red Cat (NASDAQ:RCAT – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $15.47 million for the quarter, compared to analyst estimates of $17.63 million. The firm’s revenue for the quarter was up 849.1% compared to the same quarter last year. On average, research analysts forecast that Red Cat Holdings, Inc. will post -0.68 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in RCAT. IFP Advisors Inc grew its holdings in shares of Red Cat by 181.1% in the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after purchasing an additional 1,720 shares during the last quarter. Fifth Third Bancorp bought a new position in Red Cat during the 1st quarter valued at about $33,000. Montag A & Associates Inc. lifted its holdings in Red Cat by 552.0% during the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after purchasing an additional 2,760 shares during the last quarter. California State Teachers Retirement System acquired a new position in Red Cat in the second quarter valued at about $34,000. Finally, NFSG Corp boosted its position in Red Cat by 200.0% in the first quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $39,000 after buying an additional 2,000 shares in the last quarter. 37.97% of the stock is owned by 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.