Red Cat (NASDAQ:RCAT) Trading 3.6% Higher – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) traded up 3.6% on Thursday . The stock 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.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Northland Securities set a $22.00 price objective on shares of Red Cat in a report on Tuesday, January 20th. Clear Str upgraded shares of Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC increased their target price on shares of Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $20.67.

Red Cat Stock Down 2.6%

The company’s fifty day simple moving average is $13.02 and its two-hundred day simple moving average is $11.41. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -13.56 and a beta of 1.21.

Red Cat (NASDAQ:RCAT) last posted its earnings results 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 during the quarter, compared to analyst estimates of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The company’s revenue was up 849.1% compared to the same quarter last year. Equities research analysts expect that Red Cat Holdings, Inc. will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its holdings in shares of Red Cat by 3.0% during the fourth quarter. Arizona State Retirement System now owns 29,311 shares of the company’s stock worth $232,000 after acquiring an additional 855 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Red Cat by 0.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock valued at $1,325,000 after purchasing an additional 1,147 shares in the last quarter. Advisory Services Network LLC grew its position in Red Cat by 5.3% in the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock valued at $313,000 after purchasing an additional 1,507 shares in the last quarter. AlphaQuest LLC grew its position in Red Cat by 17.4% in the third quarter. AlphaQuest LLC now owns 10,839 shares of the company’s stock valued at $112,000 after purchasing an additional 1,608 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Red Cat by 181.1% in the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock valued at $28,000 after purchasing an additional 1,720 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.