BUZZ-Red Cat surges again to record high

Reuters

2024-11-22

BUZZ-Red Cat surges again to record high

** Shares of drone technology co Red Cat Holdings RCAT.O up 21.7% at $7.75 on Thurs, extending strong recent gains

** RCAT rises as much as 23.4% on session to $7.86, a record high, and nearly double stock's Nov 14 closing price of $4.02

** Stock on Weds surged 34% amid news of military contract win, and expanded partnership with Palladyne AI Corp PDYN.O, developer of artificial intelligence software for robotic platforms in commercial and defense sectors

** Mid afternoon on Tues, the San Juan, Puerto Rico-based firm said its Teal Drones subsidiary was selected for U.S. Army's short range reconnaissance program

** Red Cat, which bought Teal in 2021 in a $14 mln all-stock deal, has never been profitable and recently warned it may be unable to continue as a going concern (Click here for Sept 10-Q filing)

** Co made its Nasdaq .IXIC debut on Apr 30, 2021, after $16 mln public offering priced at $4 and its shares uplisted from the QTCQB Venture Market

** It has ~77.57 mln shares outstanding for roughly $600 mln current market cap and ~60.23 mln shares of free float, per LSEG

** About 11 mln shares have exchanged hands so far on Thurs vs stock's 50-DMA volume of about 2.3 mln shares

** Just two firms have research coverage on RCAT: Ladenburg rates stock "strong buy" with $9 PT and ThinkEquity rates "buy" with $5 PT

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper.thomsonreuters.com@reuters.net lance.tupper@tr.com 1-646-279-6380))

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The views expressed are his own)</p><p>((lance.tupper.thomsonreuters.com@reuters.net\nlance.tupper@tr.com 1-646-279-6380))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241121:nL6N3MS0ME:1","article_id":"2485443334","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485443334","pubTimestamp":1732211881,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"** Shares of drone technology co Red Cat Holdings RCAT.O up 21.7% at $7.75 on Thurs, extending strong recent gains. ** RCAT rises as much as 23.4% on session to $7.86, a record high, and nearly double stock's Nov 14 closing price of $4.02. ** Stock on Weds surged 34% amid news of military contract win, and expanded partnership with Palladyne AI Corp PDYN.O, developer of artificial intelligence software for robotic platforms in commercial and defense sectors. ** Mid afternoon on Tues, the San Juan, Puerto Rico-based firm said its Teal Drones subsidiary was selected for U.S. Army's short range reconnaissance program. ** Red Cat, which bought Teal in 2021 in a $14 mln all-stock deal, has never been profitable and recently warned it may be unable to continue as a going concern . ** Co made its Nasdaq .IXIC debut on Apr 30, 2021, after $16 mln public offering priced at $4 and its shares uplisted from the QTCQB Venture Market. ** Just two firms have research coverage on RCAT: Ladenburg rates","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"BUZZ-Red Cat再次飙升至历史新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDYN":0.9,"RCAT":0.9},"content_text":"BUZZ-Red Cat surges again to record high\n    ** Shares of drone technology co Red Cat Holdings RCAT.O up 21.7% at $7.75 on Thurs, extending strong recent gains\n  \n    ** RCAT rises as much as 23.4% on session to $7.86, a record high, and nearly double stock's Nov 14 closing price of $4.02\n  \n    ** Stock on Weds surged 34% amid news of military contract win, and expanded partnership with Palladyne AI Corp PDYN.O, developer of artificial intelligence software for robotic platforms in commercial and defense sectors\n  \n    ** Mid afternoon on Tues, the San Juan, Puerto Rico-based firm said its Teal Drones subsidiary was selected for U.S. Army's short range reconnaissance program\n  \n    ** Red Cat, which bought Teal in 2021 in a $14 mln all-stock deal, has never been profitable and recently warned it may be unable to continue as a going concern (Click here for Sept 10-Q filing)\n  \n    ** Co made its Nasdaq .IXIC debut on Apr 30, 2021, after $16 mln public offering priced at $4 and its shares uplisted from the QTCQB Venture Market\n\n    ** It has ~77.57 mln shares outstanding for roughly $600 mln current market cap and ~60.23 mln shares of free float, per LSEG\n  \n    ** About 11 mln shares have exchanged hands so far on Thurs vs stock's 50-DMA volume of about 2.3 mln shares\n  \n    ** Just two firms have research coverage on RCAT: Ladenburg rates stock \"strong buy\" with $9 PT and ThinkEquity rates \"buy\" with $5 PT\n  (Lance Tupper is a Reuters market analyst. The views expressed are his own)((lance.tupper.thomsonreuters.com@reuters.net\nlance.tupper@tr.com 1-646-279-6380))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}