Red Cat (NASDAQ:RCAT) Stock Price Up 6% – Should You Buy?

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

Analysts Set New Price Targets

Several brokerages recently weighed in on RCAT. Northland Capmk raised Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities initiated coverage on Red Cat in a research note on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price target for the company.

Red Cat Stock Down 8.5 %

The firm has a 50 day moving average price of $7.24 and a two-hundred day moving average price of $6.85. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $581.34 million, a price-to-earnings ratio of -12.57 and a beta of 1.32.

Hedge Funds Weigh In On Red Cat

Institutional investors have recently made changes to their positions in the business. Silver Oak Securities Incorporated lifted its holdings in shares of Red Cat by 502.3% in the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock worth $856,000 after purchasing an additional 50,668 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Red Cat in the fourth quarter worth approximately $423,000. Centiva Capital LP purchased a new position in shares of Red Cat during the third quarter valued at $207,000. Wolverine Trading LLC purchased a new stake in shares of Red Cat in the third quarter worth approximately $233,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Red Cat by 63.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,059 shares of the company’s stock valued at $386,000 after buying an additional 11,661 shares during the period. 37.97% of the stock is owned by institutional investors and hedge funds.

About Red Cat

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.