Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $5.89, but opened at $5.47. Red Cat shares last traded at $5.81, with a volume of 1,040,894 shares.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on RCAT. Northland Securities initiated coverage on shares of Red Cat in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 target price on the stock. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research note on Monday, March 10th.
Read Our Latest Stock Report on Red Cat
Red Cat Trading Down 9.1 %
The stock has a market cap of $528.26 million, a P/E ratio of -11.43 and a beta of 1.32. The firm's 50 day simple moving average is $7.24 and its two-hundred day simple moving average is $6.85. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30.
Institutional Investors Weigh In On Red Cat
Institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in Red Cat in the third quarter valued at approximately $25,000. Twin Tree Management LP bought a new stake in shares of Red Cat in the 4th quarter worth approximately $28,000. Bank of America Corp DE boosted its position in 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 period. Mark Sheptoff Financial Planning LLC acquired a new stake in Red Cat in the fourth quarter worth $48,000. Finally, SBI Securities Co. Ltd. bought a new stake in Red Cat in the fourth quarter valued at $60,000. Institutional investors own 37.97% of the company's stock.
About Red Cat
(
Get Free Report)
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.
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