Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) rose 3.6% during trading on Thursday . The stock traded as high as $9.92 and last traded at $9.74. Approximately 17,256,002 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 14,869,406 shares. The stock had previously closed at $9.40.
Wall Street Analysts Forecast Growth
RCAT has been the topic of several research reports. Clear Str raised Red Cat to a “strong-buy” rating in a research note on Wednesday, April 29th. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Red Cat from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Needham & Company LLC lifted their price target on shares of Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $20.67.
Get Our Latest Analysis on RCAT
Red Cat Trading Up 3.6%
Red Cat (NASDAQ:RCAT – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. The company had revenue of $15.47 million during the quarter, compared to the consensus estimate of $17.63 million. The company’s revenue was up 849.1% compared to the same quarter last year. On average, equities analysts forecast that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp bought a new stake in Red Cat in the first quarter valued at approximately $33,000. IFP Advisors Inc boosted its position in shares of Red Cat by 181.1% during the third 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. NFSG Corp grew its holdings in shares of Red Cat by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $39,000 after buying an additional 2,000 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Red Cat by 294.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock valued at $40,000 after buying an additional 2,271 shares during the period. Finally, Montag A & Associates Inc. increased its position in shares of Red Cat by 552.0% in 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. Institutional investors and hedge funds own 37.97% of the company’s stock.
About Red Cat
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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