Red Cat (NASDAQ:RCAT) Stock Price Up 2.4% - What's Next?

Key Points

• Shares rose 2.4% on Thursday to $15.08 (intraday high $15.66) with 20,366,727 shares traded, a ~41% jump versus average session volume.
• Analysts give Red Cat a consensus rating of "Moderate Buy" with a consensus price target of $19.33, though individual targets range roughly from $16 to $22 and include one notable sell opinion.
• The company has a market cap of $1.80 billion and a negative PE (-34.27); its 50‑day and 200‑day simple moving averages are $12.47 and $10.65, respectively, with institutions owning about 37.97% of the stock.

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s stock price traded up 2.4% during trading on Thursday . The stock traded as high as $15.66 and last traded at $15.08. 20,366,727 shares were traded during trading, an increase of 41% from the average session volume of 14,444,770 shares. The stock had previously closed at $14.73.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RCAT. Northland Securities set a $22.00 target price on Red Cat in a research note on Tuesday, January 20th. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price objective on shares of Red Cat in a report on Monday. LADENBURG THALM/SH SH raised their price objective on Red Cat from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Cat in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Red Cat currently has an average rating of "Moderate Buy" and a consensus price target of $19.33.

Red Cat Stock Performance

The firm has a market cap of $1.80 billion, a PE ratio of -34.27 and a beta of 1.53. The stock has a 50 day simple moving average of $12.47 and a two-hundred day simple moving average of $10.65.

Institutional Investors Weigh In On Red Cat

A number of hedge funds and other institutional investors have recently made changes to their positions in RCAT. Arizona State Retirement System lifted its stake in shares of Red Cat by 3.0% in the 4th quarter. Arizona State Retirement System now owns 29,311 shares of the company's stock valued at $232,000 after purchasing an additional 855 shares during the period. VestGen Advisors LLC increased its holdings in Red Cat by 4.9% in the second quarter. VestGen Advisors LLC now owns 23,625 shares of the company's stock valued at $172,000 after buying an additional 1,097 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of 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 worth $1,325,000 after acquiring an additional 1,147 shares during the period. Advisory Services Network LLC raised its position in shares of Red Cat by 5.3% in the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company's stock worth $313,000 after acquiring an additional 1,507 shares during the period. Finally, AlphaQuest LLC boosted its stake in shares of Red Cat by 17.4% during the 3rd quarter. AlphaQuest LLC now owns 10,839 shares of the company's stock worth $112,000 after acquiring an additional 1,608 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company's stock.

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.

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