Red Cat (NASDAQ:RCAT) Trading 10% Higher – Time to Buy?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) shot up 10% during trading on Thursday . The stock traded as high as $9.42 and last traded at $9.27. 2,398,542 shares were traded during mid-day trading, a decline of 52% from the average session volume of 5,043,629 shares. The stock had previously closed at $8.43.

Analyst Ratings Changes

RCAT has been the subject of several research analyst reports. Northland Securities started coverage on shares of Red Cat in a research note on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price for the company. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a research report on Monday, March 10th.

Red Cat Trading Down 4.7%

The firm has a market cap of $758.23 million, a P/E ratio of -15.44 and a beta of 1.40. The stock has a 50 day simple moving average of $6.34 and a 200-day simple moving average of $7.78. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. On average, equities research analysts expect that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Twin Tree Management LP bought a new stake in Red Cat during the fourth quarter worth approximately $28,000. Bank of America Corp DE increased its position in shares of Red Cat by 407.0% during the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after purchasing an additional 2,727 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in Red Cat during the 4th quarter valued at $48,000. SBI Securities Co. Ltd. lifted its position in Red Cat by 104.4% in the first quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company’s stock worth $56,000 after buying an additional 4,835 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in Red Cat in the first quarter worth $59,000. Institutional investors own 37.97% of the company’s stock.

Red Cat Company Profile

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.