Red Cat (NASDAQ:RCAT) Shares Up 8.6% – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price traded up 8.6% during mid-day trading on Monday . The company traded as high as $14.26 and last traded at $13.71. 10,331,163 shares traded hands during trading, a decline of 32% from the average session volume of 15,091,621 shares. The stock had previously closed at $12.63.

Analyst Upgrades and Downgrades

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

Red Cat Stock Up 8.6%

The company’s 50-day simple moving average is $10.95 and its 200 day simple moving average is $10.24. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -31.16 and a beta of 1.50.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $9.65 million for the quarter, compared to analyst estimates of $8.18 million. On average, equities analysts expect that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake 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 acquiring an additional 1,720 shares during the period. Montag A & Associates Inc. increased 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 in the last quarter. California State Teachers Retirement System bought a new position in shares of Red Cat in the second quarter valued at about $34,000. Global Retirement Partners LLC acquired a new position in shares of Red Cat during the third quarter worth approximately $36,000. Finally, N.E.W. Advisory Services LLC lifted its holdings in 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 buying an additional 3,323 shares in the last quarter. 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.