Red Cat (NASDAQ:RCAT) Trading Up 4% – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price traded up 4% during mid-day trading on Tuesday . The stock traded as high as $15.67 and last traded at $14.67. 22,610,097 shares changed hands during mid-day trading, an increase of 41% from the average session volume of 15,985,127 shares. The stock had previously closed at $14.10.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. LADENBURG THALM/SH SH raised their target price on shares of Red Cat from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Northland Securities set a $22.00 price target on Red Cat in a report on Tuesday, January 20th. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Red Cat in a report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Red Cat currently has a consensus rating of “Hold” and a consensus target price of $19.33.

Red Cat Trading Up 0.9%

The business’s 50-day moving average price is $13.15 and its 200-day moving average price is $10.85. The stock has a market cap of $1.95 billion, a PE ratio of -37.08 and a beta of 1.53.

Hedge Funds Weigh In On Red Cat

Several institutional investors and hedge funds have recently bought and sold shares of RCAT. IFP Advisors Inc boosted its position in shares of Red Cat by 181.1% in the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after purchasing an additional 1,720 shares in the last quarter. Montag A & Associates Inc. increased its position in Red Cat by 552.0% during the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after buying an additional 2,760 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Red Cat in the second quarter valued at about $34,000. Global Retirement Partners LLC purchased a new stake in Red Cat in the third quarter valued at about $36,000. Finally, N.E.W. Advisory Services LLC boosted its holdings in Red Cat by 163.5% in the fourth quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company’s stock worth $42,000 after acquiring an additional 3,323 shares in the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.

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.