Red Cat (NASDAQ:RCAT) Stock Price Up 4.6% – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) traded up 4.6% during trading on Thursday . The stock traded as high as $13.01 and last traded at $12.99. 8,999,066 shares traded hands during trading, a decline of 31% from the average session volume of 13,054,718 shares. The stock had previously closed at $12.42.

Wall Street Analyst Weigh In

A number of research firms have commented on RCAT. Northland Securities set a $22.00 price objective on shares of Red Cat in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research note on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Needham & Company LLC increased their price target on shares of Red Cat from $12.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $19.00.

Red Cat Stock Up 4.6%

The stock has a 50 day moving average of $11.97 and a 200 day moving average of $10.50. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -29.52 and a beta of 1.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RCAT. Arizona State Retirement System boosted its holdings in shares of 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 purchasing an additional 855 shares in the last quarter. VestGen Advisors LLC grew its position in Red Cat by 4.9% in the second quarter. VestGen Advisors LLC now owns 23,625 shares of the company’s stock valued at $172,000 after acquiring an additional 1,097 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Red Cat by 0.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock valued at $1,325,000 after acquiring an additional 1,147 shares during the last quarter. Advisory Services Network LLC raised its stake in Red Cat by 5.3% during the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock worth $313,000 after acquiring an additional 1,507 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Red Cat by 17.4% in the third quarter. AlphaQuest LLC now owns 10,839 shares of the company’s stock worth $112,000 after acquiring an additional 1,608 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.