Red Cat (NASDAQ:RCAT) Sets New 1-Year High - What's Next?

Key Points

• Red Cat Holdings, Inc. (NASDAQ:RCAT) reached a new 52-week high of $15.53 with a trading volume of over 5.4 million shares, closing at $14.56.
• Analysts have mixed ratings on Red Cat, with one firm downgrading it to a "sell," while another upgraded it to a "strong-buy," leading to an average target price of $16.50.
• Insider trading revealed a director sold 30,000 shares, decreasing their position by 29.11%, while institutional investors own approximately 37.97% of the company.

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.53 and last traded at $14.56, with a volume of 5417613 shares trading hands. The stock had previously closed at $14.58.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RCAT shares. Wall Street Zen cut Red Cat from a "hold" rating to a "sell" rating in a report on Saturday. LADENBURG THALM/SH SH upgraded Red Cat to a "strong-buy" rating in a research note on Thursday, October 2nd. Needham & Company LLC started coverage on shares of Red Cat in a research report on Friday. They set a "buy" rating and a $17.00 price objective for the company. Northland Securities set a $16.00 target price on shares of Red Cat in a research report on Friday, August 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Red Cat in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Red Cat presently has an average rating of "Buy" and an average price target of $16.50.

Red Cat Trading Down 3.0%

The firm has a market capitalization of $1.67 billion, a PE ratio of -26.36 and a beta of 1.45. The business has a 50-day moving average of $9.75 and a 200 day moving average of $7.95.

Insiders Place Their Bets

In related news, Director Christopher R. Moe sold 30,000 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $10.11, for a total transaction of $303,300.00. Following the sale, the director directly owned 73,073 shares in the company, valued at approximately $738,768.03. The trade was a 29.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 86,833 shares of company stock worth $861,560 in the last three months. 15.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after buying an additional 2,727 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Red Cat by 23.0% in 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. Western Wealth Management LLC raised its stake in Red Cat by 18.1% in the first quarter. Western Wealth Management LLC now owns 23,500 shares of the company's stock valued at $138,000 after purchasing an additional 3,600 shares in the last quarter. Summit Trail Advisors LLC bought a new stake in Red Cat during the first quarter valued at approximately $59,000. Finally, U.S. Capital Wealth Advisors LLC grew its stake in Red Cat by 30.0% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company's stock worth $83,000 after buying an additional 3,250 shares in the last quarter. 37.97% of the stock is 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.

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