Red Cat (NASDAQ:RCAT) Stock Price Up 4.8% - Should You Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) shares rose 4.8% during mid-day trading on Monday . The stock traded as high as $7.03 and last traded at $7.20. Approximately 1,682,524 shares traded hands during trading, a decline of 69% from the average daily volume of 5,400,862 shares. The stock had previously closed at $6.87.

Wall Street Analyst Weigh In

Several research firms have weighed in on RCAT. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research note on Monday, March 10th. Northland Securities initiated coverage on shares of Red Cat in a report on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 target price on the stock.

Red Cat Stock Performance

The firm has a market cap of $659.96 million, a P/E ratio of -13.27 and a beta of 1.40. The firm's fifty day simple moving average is $6.45 and its 200 day simple moving average is $7.68.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.17). Red Cat had a negative return on equity of 98.48% and a negative net margin of 232.62%. On average, equities research analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Waddell & Associates LLC purchased a new stake in Red Cat during the fourth quarter valued at $159,643,000. Vanguard Group Inc. increased its holdings in shares of Red Cat by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock worth $32,197,000 after buying an additional 207,727 shares during the last quarter. Apis Capital Advisors LLC raised its position in shares of Red Cat by 4.9% during the 1st quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company's stock valued at $4,010,000 after buying an additional 32,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Red Cat by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock valued at $7,747,000 after acquiring an additional 10,594 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Red Cat in the 4th quarter valued at about $6,628,000. 37.97% of the stock is currently owned by institutional investors.

About Red Cat

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.