Red Cat (NASDAQ:RCAT) Trading Up 17.3% – Should You Buy?
by Mitch Edgeman · The Markets DailyShares of Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) shot up 17.3% during mid-day trading on Monday . The stock traded as high as $15.35 and last traded at $13.67. 38,194,969 shares changed hands during mid-day trading, an increase of 181% from the average session volume of 13,596,693 shares. The stock had previously closed at $11.65.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on RCAT shares. LADENBURG THALM/SH SH upped 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. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research report on Thursday, January 22nd. Northland Securities set a $22.00 target price on shares of Red Cat in a research report on Tuesday, January 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Red Cat in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.
View Our Latest Analysis on Red Cat
Red Cat Price Performance
The stock has a 50-day moving average of $12.35 and a 200-day moving average of $10.62. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -33.48 and a beta of 1.53.
Hedge Funds Weigh In On Red Cat
A number of hedge funds have recently modified their holdings of RCAT. State Street Corp increased its stake in shares of 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. raised its stake in Red Cat by 9.0% in the 4th 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 raised its stake in shares of Red Cat by 13.4% during 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 during the period. AWM Investment Company Inc. increased its holdings in shares of Red Cat by 15.3% in the second 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 period. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Red Cat during the 3rd quarter valued at about $19,739,000. 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.