Red Cat (NASDAQ:RCAT) Trading Up 14.3% – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) traded up 14.3% on Monday . The stock traded as high as $15.68 and last traded at $15.15. 19,308,147 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 16,734,541 shares. The stock had previously closed at $13.25.

Analyst Ratings Changes

RCAT has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upped their price target on Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Northland Securities set a $22.00 target price on Red Cat in a research report on Tuesday, January 20th. Wall Street Zen upgraded shares of Red Cat from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Thursday, January 22nd. Finally, Needham & Company LLC lifted their price target on shares of Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.67.

Red Cat Stock Performance

The stock has a market capitalization of $2.01 billion, a P/E ratio of -22.10 and a beta of 1.53. The firm has a fifty day moving average price of $14.02 and a two-hundred day moving average price of $11.29.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Wednesday, March 18th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Red Cat had a negative return on equity of 38.86% and a negative net margin of 176.96%.The firm had revenue of $26.24 million during the quarter, compared to the consensus estimate of $24.50 million. On average, research analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc grew its position in Red Cat by 181.1% during the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock valued at $28,000 after buying an additional 1,720 shares during the period. Montag A & Associates Inc. increased its holdings in Red Cat by 552.0% during the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after buying an additional 2,760 shares during the last quarter. California State Teachers Retirement System bought a new position in Red Cat in the second quarter worth approximately $34,000. Global Retirement Partners LLC purchased a new position in shares of Red Cat during the 3rd quarter worth $36,000. Finally, N.E.W. Advisory Services LLC boosted its stake in shares of Red Cat by 163.5% during the 4th quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company’s stock worth $42,000 after acquiring an additional 3,323 shares during the last quarter. Hedge funds and other institutional investors own 37.97% of the company’s stock.

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.