Red Cat Holdings Inc. (NASDAQ:RCAT) said Monday that its maritime division, Blue Ops, partnered with Havoc to develop open-architecture autonomous maritime defense systems.
Autonomous Maritime Defense
The companies plan to integrate Havoc’s collaborative autonomy software and command-and-control technology across Blue Ops’ uncrewed surface vessels (USVs), including its Variant 7 platform.
The integration will support coordinated multi-vessel operations for U.S. and allied defense customers. Havoc has previously deployed its autonomy technology for the U.S. Department of Defense in multiple operational settings.
Testing And Market Expansion
The companies also plan to establish operational fleets in Rhode Island and Florida for demonstrations, testing, training and evaluation.
In addition, Red Cat and Blue Ops will introduce Havoc’s technology to their government and commercial customers. Havoc will market Blue Ops’ vessels to its customer base.
Technical Analysis
Red Cat shares fell more than 1% in Monday premarket trading. The stock is testing a key long-term moving average as traders weigh a mixed technical setup. Nasdaq futures rose 0.45%, while S&P 500 futures gained 0.11%.
The shares traded near their 200-day simple moving average of $11. The stock was also about 28% above its 20-day SMA of $8.64 and nearly 15% above its 50-day SMA of $9.63.
However, the broader technical structure remains mixed. The 50-day SMA remains below the 200-day SMA following a June death cross. The 20-day SMA is also below the 50-day average.
Meanwhile, MACD is above its signal line, while the histogram is positive. That points to improving short-term momentum.
Resistance sits near $11.50, while $9.50 represents the next key support area.
Analyst Outlook
The stock carries a Buy consensus rating and an average price forecast of $20.
H.C. Wainwright maintained its Buy rating and $20 forecast on Aug. 7. Needham maintained a Buy rating but lowered its forecast to $15. Roth Capital initiated coverage with a Buy rating and $25 forecast in June.
Benzinga Edge Rankings
Red Cat has a Momentum score of 68.75 on the Benzinga Edge scorecard. The reading points to constructive momentum, although the stock remains short of a strong trend signal.
ETF Exposure
Red Cat has a 4.10% weighting in the Defiance Drone and Modern Warfare ETF (ARCA), a 3.97% weighting in the REX Drone ETF (NASDAQ), and a 5% weighting in the Moonvest ETF (NASDAQ).
Price Action
RCAT Price Action: Red Cat shares fell 1.17% to $11 in Monday premarket trading, according to Benzinga Pro data.
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