Red Cat (NASDAQ:RCAT) Trading 10.5% Higher - Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s stock price rose 10.5% during trading on Tuesday . The company traded as high as $7.32 and last traded at $7.14. Approximately 6,751,177 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 6,243,933 shares. The stock had previously closed at $6.46.

Analysts Set New Price Targets

RCAT has been the subject of a number of recent research reports. Northland Securities initiated coverage on shares of Red Cat in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 price objective for the company. Northland Capmk raised shares of Red Cat to a "strong-buy" rating in a report on Monday, March 10th.

Red Cat Stock Down 4.3%

The stock has a market capitalization of $701.86 million, a PE ratio of -14.30 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The business's fifty day moving average price is $6.09 and its two-hundred day moving average price is $7.73.

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 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 research analysts forecast 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 made changes to their positions in the stock. Everstar Asset Management LLC purchased a new stake in shares of Red Cat during the first quarter valued at $211,000. Goldman Sachs Group Inc. boosted its holdings in Red Cat by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company's stock valued at $1,565,000 after purchasing an additional 59,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Red Cat by 63.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 229,259 shares of the company's stock valued at $1,348,000 after purchasing an additional 89,095 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Red Cat by 66.0% in the first quarter. Integrated Wealth Concepts LLC now owns 195,225 shares of the company's stock valued at $1,148,000 after purchasing an additional 77,630 shares during the last quarter. Finally, GW Henssler & Associates Ltd. purchased a new stake in Red Cat in the first quarter valued at $1,297,000. 37.97% of the stock is owned by hedge funds and other 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.