Red Cat (NASDAQ:RCAT) Stock Price Up 2.6% – Time to Buy?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) rose 2.6% on Monday . The company traded as high as $13.01 and last traded at $12.79. Approximately 7,818,852 shares traded hands during trading, a decline of 42% from the average daily volume of 13,444,496 shares. The stock had previously closed at $12.47.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research report on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a report on Thursday, December 18th. Northland Securities set a $22.00 target price on Red Cat in a research report on Tuesday, January 20th. Finally, Needham & Company LLC upped their price target on Red Cat from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Red Cat has an average rating of “Buy” and a consensus price target of $19.00.

Red Cat Stock Up 2.5%

The stock has a market capitalization of $1.53 billion, a P/E ratio of -29.05 and a beta of 1.50. The company has a fifty day simple moving average of $11.64 and a two-hundred day simple moving average of $10.44.

Institutional Trading of Red Cat

Several hedge funds have recently bought and sold shares of RCAT. Moors & Cabot Inc. raised its stake in shares of Red Cat by 65.6% in the 2nd quarter. Moors & Cabot Inc. now owns 280,825 shares of the company’s stock valued at $2,044,000 after purchasing an additional 111,225 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Red Cat by 31.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 157,704 shares of the company’s stock worth $1,148,000 after buying an additional 37,407 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Red Cat in the 2nd quarter valued at approximately $546,000. AWM Investment Company Inc. lifted its stake in Red Cat by 15.3% in the 2nd quarter. AWM Investment Company Inc. now owns 2,037,616 shares of the company’s stock valued at $14,834,000 after acquiring an additional 269,942 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in Red Cat in the 3rd quarter valued at approximately $880,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.