Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) were up 4.3% during mid-day trading on Monday . The stock traded as high as $13.10 and last traded at $12.90. Approximately 8,263,249 shares were traded during trading, a decline of 49% from the average daily volume of 16,115,954 shares. The stock had previously closed at $12.37.
Analyst Ratings Changes
RCAT has been the topic of several analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Red Cat in a research report on Thursday, January 22nd. Needham & Company LLC increased their target price on Red Cat from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. LADENBURG THALM/SH SH increased their target price on Red Cat from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Wall Street Zen raised Red Cat from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, Northland Securities set a $22.00 target price on Red Cat in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $20.67.
View Our Latest Analysis on Red Cat
Red Cat Price Performance
The company has a 50-day simple moving average of $13.51 and a two-hundred day simple moving average of $11.52. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -17.20 and a beta of 1.46.
Red Cat (NASDAQ:RCAT - Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Red Cat had a negative return on equity of 38.86% and a negative net margin of 176.96%.The business had revenue of $26.24 million during the quarter, compared to the consensus estimate of $24.50 million. Research analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Red Cat by 1,825.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 54,152 shares of the company's stock worth $429,000 after purchasing an additional 51,339 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Red Cat in the fourth quarter worth $196,000. Invesco Ltd. grew its stake in shares of Red Cat by 36.3% in the fourth quarter. Invesco Ltd. now owns 237,038 shares of the company's stock worth $1,880,000 after purchasing an additional 63,098 shares in the last quarter. Vident Advisory LLC bought a new position in shares of Red Cat in the fourth quarter worth $1,009,000. Finally, Janus Henderson Group PLC grew its stake in shares of Red Cat by 29.5% in the fourth quarter. Janus Henderson Group PLC now owns 47,115 shares of the company's stock worth $374,000 after purchasing an additional 10,723 shares in the last quarter. Institutional investors own 37.97% of the company's stock.
About Red Cat
(
Get Free Report)
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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