Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) 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 trading hands.
Analysts Set New Price Targets
Several equities research analysts have recently commented on RCAT shares. Northland Capmk raised shares of Red Cat to a "strong-buy" rating in a research report on Monday, March 10th. Northland Securities assumed coverage on shares of Red Cat in a research note on Tuesday, March 11th. They set an "outperform" rating and a $13.00 target price on the stock.
Get Our Latest Research Report on RCAT
Red Cat Price Performance
The company has a 50 day moving average price of $6.15 and a 200 day moving average price of $7.78. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $783.32 million, a P/E ratio of -15.91 and a beta of 1.40.
Red Cat (NASDAQ:RCAT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.27) earnings per share (EPS) 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, 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 large investors have recently modified their holdings of RCAT. Twin Tree Management LP purchased a new stake in Red Cat in the fourth quarter valued at approximately $28,000. Bank of America Corp DE lifted its stake in shares of Red Cat by 407.0% in 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 during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Red Cat in the 4th quarter valued at $48,000. SBI Securities Co. Ltd. bought a new stake in Red Cat during the 4th quarter worth about $60,000. Finally, Jones Financial Companies Lllp boosted its stake in Red Cat by 1,536.6% during the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock worth $114,000 after acquiring an additional 8,344 shares during the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.
About Red Cat
(
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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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