Red Cat Stock Rises After Securing $518K In New Orders For Edge 130 Drones: Retail Stays Positive
Red Cat says it has received orders for 12 Edge 130 drones, weighing 1,200 grams, with flight time of over 60 minutes. It is capable of long-range mapping, inspection, surveillance, and reconnaissance.
FollowShares of Red Cat Holdings Inc. (RCAT) gained 2% in morning trade on Thursday after securing $518,000 in new orders for its Edge 130 drones from the Army National Guard and another U.S. government agency.
“These new orders further validate the performance and unique capabilities of the Edge 130 as part of our Family of Systems and reinforce our position as a trusted provider of drone solutions for government and military applications,” said Jeff Thompson, Red Cat CEO.
Red Cat says it has received orders for 12 Edge 130 drones, which weigh 1,200 grams and have a flight time of over 60 minutes.
The Edge 130 drone is capable of long-range mapping, inspection, surveillance, and reconnaissance.
“We are expanding our manufacturing capacity for the Edge 130 to accelerate this momentum and remain committed to supporting U.S. government agencies with the industry’s best technology that enhances their mission capabilities and success,” Thompson added.
Retail sentiment on Stocktwits remained in the ‘bullish’ (60/100) territory, and message volume stayed in the ‘high’ zone.
RCAT sentiment and message volume January 23, 2025, as of 10 am ET | Source: Stocktwits
Users were optimistic about Red Cat’s drones.
Red Cat’s stock price has more than quadrupled in the past six months, while its one-year returns stand at a staggering 1,141%.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
subscribe to Asianet Newsable WhatsApp channel by clicking here.
