Red Cat (NASDAQ:RCAT) Shares Gap Up - Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $5.42, but opened at $5.73. Red Cat shares last traded at $6.03, with a volume of 1,705,691 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RCAT shares. Northland Securities assumed coverage on shares of Red Cat in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 price objective for the company. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a report on Monday, March 10th.

Red Cat Stock Down 3.7 %

The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $494.44 million, a price-to-earnings ratio of -10.69 and a beta of 1.32. The stock has a 50 day moving average of $7.45 and a 200 day moving average of $6.72.

Insider Activity

In other news, Director Joseph David Freedman sold 15,000 shares of Red Cat stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.24, for a total value of $213,600.00. Following the completion of the transaction, the director now directly owns 585,190 shares of the company's stock, valued at approximately $8,333,105.60. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 21.50% of the company's stock.

Remove Ads

Hedge Funds Weigh In On Red Cat

Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat during the 3rd quarter worth approximately $25,000. Twin Tree Management LP acquired a new stake in Red Cat in the fourth quarter worth $28,000. Bank of America Corp DE increased its position in Red Cat by 407.0% in the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after buying an additional 2,727 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Red Cat during the fourth quarter valued at $48,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Red Cat during the fourth quarter worth about $60,000. 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.