Red Cat (NASDAQ:RCAT) Shares Up 4.3% – Time to Buy?
by Teresa Graham · The Cerbat GemRed Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) shot up 4.3% during mid-day trading on Monday . The company traded as high as $13.10 and last traded at $12.90. 8,263,249 shares changed hands during trading, a decline of 49% from the average session volume of 16,115,954 shares. The stock had previously closed at $12.37.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on RCAT. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a report on Thursday, January 22nd. Needham & Company LLC lifted their price objective on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Northland Securities set a $22.00 price objective on Red Cat in a report on Tuesday, January 20th. LADENBURG THALM/SH SH lifted their price objective on Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen raised Red Cat from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Red Cat currently has a consensus rating of “Hold” and an average target price of $20.67.
Get Our Latest Stock Report on RCAT
Red Cat Stock Down 2.0%
The stock has a fifty day moving average of $13.47 and a 200-day moving average of $11.56. The firm has a market capitalization of $1.53 billion, a P/E ratio of -16.85 and a beta of 1.46.
Red Cat (NASDAQ:RCAT – Get Free Report) last released its quarterly earnings results 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 net margin of 176.96% and a negative return on equity of 38.86%. The business had revenue of $26.24 million during the quarter, compared to the consensus estimate of $24.50 million. As a group, analysts forecast that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its position in Red Cat by 1,825.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 54,152 shares of the company’s stock worth $429,000 after purchasing an additional 51,339 shares during the period. Virtu Financial LLC acquired a new stake in Red Cat in the fourth quarter worth about $196,000. Invesco Ltd. increased its position in Red Cat by 36.3% in the fourth quarter. Invesco Ltd. now owns 237,038 shares of the company’s stock worth $1,880,000 after purchasing an additional 63,098 shares during the period. Vident Advisory LLC acquired a new stake in Red Cat in the fourth quarter worth about $1,009,000. Finally, Janus Henderson Group PLC increased its position in Red Cat by 29.5% in the fourth quarter. Janus Henderson Group PLC now owns 47,115 shares of the company’s stock worth $374,000 after purchasing an additional 10,723 shares during the period. 37.97% of the stock is 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.