Red Cat (NASDAQ:RCAT) Trading 1.9% Higher – Should You Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price traded up 1.9% on Friday . The stock traded as high as $18.78 and last traded at $15.36. 56,986,134 shares changed hands during mid-day trading, an increase of 270% from the average session volume of 15,402,961 shares. The stock had previously closed at $15.08.

Analyst Ratings Changes

Several research analysts recently issued reports on RCAT shares. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Red Cat in a report on Monday. LADENBURG THALM/SH SH boosted their target price on Red Cat from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday. Northland Securities set a $22.00 price target on Red Cat in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Red Cat Stock Up 1.9%

The stock’s fifty day simple moving average is $12.59 and its 200-day simple moving average is $10.68. The company has a market capitalization of $1.83 billion, a PE ratio of -34.91 and a beta of 1.53.

Institutional Trading of Red Cat

A number of institutional investors have recently bought and sold shares of RCAT. Caitong International Asset Management Co. Ltd increased its position in shares of 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 valued at $429,000 after buying an additional 51,339 shares in the last quarter. Virtu Financial LLC acquired a new stake in Red Cat in the 4th quarter valued at about $196,000. Invesco Ltd. increased its holdings in Red Cat by 36.3% during the 4th quarter. Invesco Ltd. now owns 237,038 shares of the company’s stock valued at $1,880,000 after acquiring an additional 63,098 shares in the last quarter. Vident Advisory LLC acquired a new position in Red Cat during the fourth quarter worth about $1,009,000. Finally, Janus Henderson Group PLC raised its position in Red Cat by 29.5% during the fourth quarter. Janus Henderson Group PLC now owns 47,115 shares of the company’s stock worth $374,000 after acquiring an additional 10,723 shares during the last quarter. 37.97% of the stock is currently owned by hedge funds and other 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.