Red Cat (NASDAQ:RCAT) Shares Up 6% - Should You Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s stock price was up 6% during mid-day trading on Tuesday . The stock traded as high as $6.22 and last traded at $6.24. Approximately 3,507,097 shares were traded during trading, a decline of 12% from the average daily volume of 3,995,277 shares. The stock had previously closed at $5.88.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Northland Securities initiated coverage on Red Cat in a research report on Tuesday, March 11th. They set an "outperform" rating and a $13.00 target price on the stock. Northland Capmk raised shares of Red Cat to a "strong-buy" rating in a report on Monday, March 10th.

Red Cat Price Performance

The firm has a market cap of $528.45 million, a price-to-earnings ratio of -11.43 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The stock has a 50-day moving average price of $7.20 and a 200 day moving average price of $6.90.

Institutional Investors Weigh In On Red Cat

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waddell & Associates LLC acquired a new position in shares of Red Cat in the 4th quarter valued at $159,643,000. Vanguard Group Inc. grew its position in Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock worth $32,197,000 after purchasing an additional 207,727 shares during the last quarter. Apis Capital Advisors LLC increased its stake in Red Cat by 61.7% in the fourth quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company's stock valued at $8,352,000 after purchasing an additional 248,000 shares during the period. Geode Capital Management LLC increased its stake in Red Cat by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock valued at $7,747,000 after purchasing an additional 10,594 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Red Cat during the fourth quarter worth about $6,628,000. Hedge funds and other 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.