Red Cat (NASDAQ:RCAT) Trading 4.3% Higher – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shot up 4.3% during mid-day trading on Tuesday . The stock traded as high as $7.28 and last traded at $7.18. 1,619,812 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 4,520,285 shares. The stock had previously closed at $6.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Northland Capmk raised Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities started coverage on Red Cat in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 target price for the company.

Red Cat Price Performance

The company has a market capitalization of $630.68 million, a P/E ratio of -12.86 and a beta of 1.37. The stock’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $7.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. On average, equities analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Red Cat

A number of institutional investors and hedge funds have recently modified their holdings of the company. Twin Tree Management LP acquired a new position in shares of Red Cat in the 4th quarter valued at $28,000. Bank of America Corp DE boosted its stake in Red Cat by 407.0% in the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after purchasing an additional 2,727 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Red Cat by 23.0% during the fourth quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock worth $199,000 after purchasing an additional 2,902 shares during the last quarter. United Capital Management of KS Inc. increased its stake in shares of Red Cat by 7.4% in the fourth quarter. United Capital Management of KS Inc. now owns 45,650 shares of the company’s stock valued at $587,000 after buying an additional 3,150 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in shares of Red Cat by 30.0% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company’s stock valued at $83,000 after buying an additional 3,250 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors.

Red Cat Company Profile

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.