Red Cat (NASDAQ:RCAT) Shares Gap Up – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares gapped up prior to trading on Monday . The stock had previously closed at $8.16, but opened at $8.75. Red Cat shares last traded at $8.52, with a volume of 2,816,643 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a research note on Monday, March 10th. Northland Securities assumed coverage on Red Cat in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 price target for the company.

Red Cat Trading Down 2.4%

The business has a 50-day moving average price of $6.21 and a two-hundred day moving average price of $7.78. The stock has a market capitalization of $780.96 million, a P/E ratio of -15.91 and a beta of 1.40. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

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

Institutional Trading of Red Cat

A number of institutional investors have recently modified their holdings of RCAT. Twin Tree Management LP bought a new stake in shares of Red Cat during the 4th quarter valued at $28,000. Bank of America Corp DE lifted its position in shares of Red Cat by 407.0% during the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after acquiring an additional 2,727 shares during the period. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Red Cat during the 4th quarter valued at $48,000. SBI Securities Co. Ltd. lifted its position in shares of Red Cat by 104.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company’s stock valued at $56,000 after acquiring an additional 4,835 shares during the period. Finally, Summit Trail Advisors LLC bought a new stake in shares of Red Cat during the 1st quarter worth $59,000. 37.97% of the stock is currently owned by institutional investors.

About Red Cat

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.