Red Cat (NASDAQ:RCAT) Hits New 1-Year High – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) reached a new 52-week high on Friday . The stock traded as high as $18.78 and last traded at $18.37, with a volume of 17202065 shares trading hands. The stock had previously closed at $15.08.

Wall Street Analyst Weigh In

RCAT has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a report on Thursday, January 22nd. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Red Cat in a research report on Monday. LADENBURG THALM/SH SH raised their target price on shares of Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Northland Securities set a $22.00 price target on shares of Red Cat in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Red Cat Price Performance

The company has a market cap of $2.06 billion, a price-to-earnings ratio of -39.25 and a beta of 1.53. The company’s 50-day simple moving average is $12.59 and its 200-day simple moving average is $10.68.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in 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 buying an additional 1,720 shares in the last quarter. Montag A & Associates Inc. increased its position in shares of Red Cat by 552.0% during the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock worth $34,000 after acquiring an additional 2,760 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Red Cat in the second quarter worth about $34,000. Global Retirement Partners LLC purchased a new position 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 valued at $42,000 after purchasing an additional 3,323 shares during the last quarter. Hedge funds and other institutional investors own 37.97% of the company’s stock.

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.