Northland Securities Reduces Earnings Estimates for Red Cat

Red Cat Holdings, Inc. (NASDAQ:RCAT) – Analysts at Northland Securities dropped their Q4 2027 earnings per share (EPS) estimates for Red Cat in a research note issued to investors on Sunday, March 1st. Northland Securities analyst M. Latimore now expects that the company will earn $0.06 per share for the quarter, down from their prior forecast of $0.07. The consensus estimate for Red Cat’s current full-year earnings is ($0.50) per share.

Several other equities analysts also recently weighed in on RCAT. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Red Cat in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research report on Thursday, January 22nd. Finally, LADENBURG THALM/SH SH lifted their target price on shares of Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.33.

Red Cat Trading Up 2.4%

Shares of NASDAQ:RCAT opened at $15.08 on Wednesday. The stock has a 50 day moving average of $12.59 and a 200 day moving average of $10.68. The company has a market cap of $1.80 billion, a PE ratio of -34.27 and a beta of 1.53. Red Cat has a 12-month low of $4.58 and a 12-month high of $18.02.

Hedge Funds Weigh In On Red Cat

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after acquiring an additional 2,727 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Red Cat by 76.4% during the 1st quarter. Royal Bank of Canada now owns 57,800 shares of the company’s stock valued at $340,000 after purchasing an additional 25,031 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Red Cat by 63.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 229,259 shares of the company’s stock valued at $1,348,000 after purchasing an additional 89,095 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Red Cat by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company’s stock valued at $1,565,000 after purchasing an additional 59,334 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Red Cat in the second quarter worth about $67,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

About Red Cat

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.