Red Cat (NASDAQ:RCAT) Trading Up 3.6% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price traded up 3.6% on Thursday . The company traded as high as $9.92 and last traded at $9.74. 17,256,002 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 14,869,406 shares. The stock had previously closed at $9.40.

Wall Street Analyst Weigh In

RCAT has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research report on Tuesday, April 21st. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Red Cat from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Northland Securities set a $22.00 price objective on Red Cat in a report on Tuesday, January 20th. Finally, Clear Str upgraded Red Cat to a “strong-buy” rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.67.

Red Cat Trading Up 3.6%

The firm has a market cap of $1.20 billion, a P/E ratio of -13.91 and a beta of 1.21. The company’s fifty day moving average price is $13.22 and its two-hundred day moving average price is $11.44.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.10). The firm had revenue of $15.47 million for the quarter, compared to the consensus estimate of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The firm’s revenue for the quarter was up 849.1% compared to the same quarter last year. On average, analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Cat

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in shares of Red Cat in the first quarter valued at $2,328,000. Cetera Investment Advisers raised its stake in shares of Red Cat by 69.4% in the first quarter. Cetera Investment Advisers now owns 165,427 shares of the company’s stock worth $2,165,000 after acquiring an additional 67,790 shares during the last quarter. Himension Capital Singapore PTE. LTD. acquired a new position in shares of Red Cat during the first quarter worth approximately $284,000. PNC Financial Services Group Inc. increased its holdings in shares of Red Cat by 294.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock valued at $40,000 after purchasing an additional 2,271 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Red Cat in the first quarter valued at approximately $589,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

Red Cat Company Profile

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.