Red Cat Holdings, Inc. (NASDAQ:RCAT) Given Consensus Recommendation of “Buy” by Analysts

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have been given an average rating of “Buy” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $21.40.

Several equities research analysts recently weighed in on RCAT shares. LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. Roth Capital assumed coverage on Red Cat in a research note on Monday, June 1st. They set a “buy” rating and a $25.00 target price on the stock. HC Wainwright started coverage on Red Cat in a report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded Red Cat from a “sell” rating to a “strong sell” rating in a report on Saturday.

Insiders Place Their Bets

In other Red Cat news, Director Paul Funk II sold 165,028 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $11.50, for a total value of $1,897,822.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RCAT. Tudor Investment Corp ET AL increased its position in shares of Red Cat by 214.0% during the third quarter. Tudor Investment Corp ET AL now owns 1,277,523 shares of the company’s stock worth $13,222,000 after acquiring an additional 870,612 shares during the period. EVR Research LP purchased a new position in Red Cat during the 4th quarter worth $1,705,000. Caitong International Asset Management Co. Ltd increased its holdings in Red Cat by 1,825.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 54,152 shares of the company’s stock worth $429,000 after purchasing an additional 51,339 shares during the period. Vanguard Group Inc. raised its position 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 purchasing an additional 493,660 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Red Cat by 37.7% in the 4th quarter. UBS Group AG now owns 580,099 shares of the company’s stock worth $4,600,000 after buying an additional 158,864 shares during the period. 37.97% of the stock is currently owned by institutional investors.

Red Cat Trading Up 1.6%

Shares of NASDAQ RCAT opened at $7.76 on Thursday. Red Cat has a 12 month low of $5.77 and a 12 month high of $18.78. The firm has a market capitalization of $952.46 million, a PE ratio of -11.09 and a beta of 1.29. The firm has a fifty day simple moving average of $10.50 and a two-hundred day simple moving average of $12.16.

Red Cat (NASDAQ:RCAT) last announced its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.10). Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The firm had revenue of $15.47 million during the quarter, compared to the consensus estimate of $17.63 million. Red Cat’s quarterly revenue was up 849.1% on a year-over-year basis. On average, sell-side analysts predict that Red Cat will post -0.67 earnings per share for the current year.

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.