Red Cat Holdings, Inc. (NASDAQ: RCAT), through its four wholly-owned subsidiaries, provides products, services, and technical solutions to the drone industry. Fat Shark Holdings specializes in First Person View (FPV) video goggles for drone usage. Rotor Riot, LLC sells FPV drones and equipment to the consumer. Skypersonic offers software and hardware solutions for drones to engage in inspection services where GPS is not available. Lastly, Teal Drones manufacturers unmanned aerial vehicle technologies for commercial and government customers. Teal Drones is home to the Golden Eagle, one of only five U.S. Department of Defense-approved drones.
The drone company is seeing its shares are soaring 55% through early trading on Monday, September 27, 2021. Over the past three months, Red Cat Holdings has seen average daily volume of 3.35 million shares. However, volume of 162 million shares or dollar volume of $633.42 million, has already exchanged hands through early trading Monday.
Shares of the drone technology company are surging after the company announced that its wholly-owned subsidiary, Skypersonic, Inc., has been awarded a five-year contract with NASA. Under the terms of the contract made available, Skypersonic will provide NASA with drone and rover software, hardware, and support for simulated missions to Mars.
NASA is currently prepping for a series of analog missions to simulate year-long stays on Mars. Each mission will feature four crew members living in Mars Dune Alpha, an isolated 1,700 sq. ft. habitat. Crews will simulate spacewalks and operations by remote use of Skypersonic drones and rovers.
“Red Cat is honored to have Skypersonic working with NASA on this important scientific Mars project. We believe our patent pending remote pilot capability is a game changer in the drone industry,” added Jeff Thompson, Red Cat’s Chief Executive Officer. “Remote piloting changes the entire drone ecosystem by reducing the biggest cost of drone fleet programs, the one pilot to one drone ratio.”
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