Red Cat (NASDAQ:RCAT) Shares Up 3.8% – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price traded up 3.8% during mid-day trading on Wednesday . The company traded as high as $8.24 and last traded at $8.0840. 5,892,085 shares were traded during mid-day trading, a decline of 32% from the average session volume of 8,617,690 shares. The stock had previously closed at $7.79.

Analyst Ratings Changes

RCAT has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research report on Wednesday, October 8th. Needham & Company LLC reduced their price target on shares of Red Cat from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Wall Street Zen downgraded shares of Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Red Cat currently has an average rating of “Buy” and a consensus price target of $14.00.

Red Cat Stock Up 2.6%

The company has a market cap of $953.89 million, a P/E ratio of -18.31 and a beta of 1.48. The business has a fifty day simple moving average of $8.45 and a two-hundred day simple moving average of $9.27.

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

Institutional Investors Weigh In On Red Cat

A number of hedge funds have recently bought and sold shares of RCAT. Tudor Investment Corp ET AL grew its stake in Red Cat by 214.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,277,523 shares of the company’s stock worth $13,222,000 after acquiring an additional 870,612 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Red Cat by 181.1% in the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after purchasing an additional 1,720 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Red Cat by 22.2% in the third quarter. CIBC Private Wealth Group LLC now owns 22,000 shares of the company’s stock worth $228,000 after acquiring an additional 4,000 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Red Cat in the 3rd quarter valued at approximately $322,000. Finally, Captrust Financial Advisors grew its stake in Red Cat by 22.6% during the 3rd quarter. Captrust Financial Advisors now owns 1,005,488 shares of the company’s stock valued at $10,407,000 after purchasing an additional 185,209 shares during the last quarter. Hedge funds and other institutional investors 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.