Red Cat (NASDAQ:RCAT) Director Paul Funk II Sells 165,028 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Paul Funk II sold 165,028 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $11.50, for a total value of $1,897,822.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Red Cat Stock Up 7.1%

Shares of RCAT stock opened at $11.97 on Tuesday. The stock has a fifty day moving average of $11.73 and a 200 day moving average of $11.87. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -17.10 and a beta of 1.23. Red Cat Holdings, Inc. has a 52 week low of $5.77 and a 52 week high of $18.78.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). The firm had revenue of $15.47 million for the quarter, compared to analysts’ expectations of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The company’s revenue for the quarter was up 849.1% on a year-over-year basis. Equities research analysts anticipate that Red Cat Holdings, Inc. will post -0.68 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. Clear Str raised shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, April 29th. Needham & Company LLC increased their price target on shares of Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Wall Street Zen raised shares of Red Cat from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, UBS Group initiated coverage on shares of Red Cat in a research note on Wednesday, May 27th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $21.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RCAT. Brevan Howard Capital Management LP purchased a new stake in Red Cat in the third quarter worth approximately $19,739,000. Tudor Investment Corp ET AL grew its position in Red Cat by 214.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,277,523 shares of the company’s stock worth $13,222,000 after purchasing an additional 870,612 shares during the period. Vanguard Group Inc. raised its stake in Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock valued at $47,580,000 after buying an additional 493,660 shares during the last quarter. UBS Group AG raised its stake in Red Cat by 37.7% during the 4th quarter. UBS Group AG now owns 580,099 shares of the company’s stock valued at $4,600,000 after buying an additional 158,864 shares during the last quarter. Finally, CenterBook Partners LP bought a new position in shares of Red Cat during the 3rd quarter valued at $580,000. Institutional investors own 37.97% of the company’s stock.

Red Cat Company Profile

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.