On May 28, Red Cat Holdings rose 9.47% overnight, trading at $11.59 USD/share, with trading volume of $1.0945 million.
On the news front, the company recently announced its acquisition of Quaze Technologies, a firm specializing in developing wireless power transmission technology for unmanned systems, drones, and autonomous machines. Quaze Technologies will operate as an independent business unit within Red Cat. The market views this acquisition as a significant technological complement to Red Cat's drone defense business, with the stock price continuing to climb since the announcement. Additionally, HC Wainwright issued a buy rating with a $20 price target, while the analyst consensus mean target stands at $21.50.
Red Cat Holdings is a U.S.-based military technology company providing advanced drone and robotic solutions for defense, national security, and commercial applications, developing American-made unmanned aerial vehicles and unmanned surface vessel hardware and software.
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