Red Cat Holdings, Inc. (NASDAQ:RCAT) Receives Average Rating of “Buy” from Analysts

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.40.

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. UBS Group started coverage on Red Cat in a report on Wednesday, May 27th. They set a “buy” rating for the company. Needham & Company LLC raised their target price on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Wall Street Zen upgraded Red Cat from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a report on Wednesday, May 6th.

Red Cat Stock Performance

Shares of Red Cat stock opened at $11.44 on Friday. Red Cat has a one year low of $5.77 and a one year high of $18.78. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -16.34 and a beta of 1.23. The business’s 50 day moving average price is $11.60 and its 200 day moving average price is $11.94.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $15.47 million for the quarter, compared to analysts’ expectations of $17.63 million. The company’s revenue for the quarter was up 849.1% compared to the same quarter last year. On average, analysts predict that Red Cat will post -0.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul Funk II sold 165,028 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $11.50, for a total transaction of $1,897,822.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Brevan Howard Capital Management LP acquired a new position in shares of Red Cat during the 3rd quarter worth about $19,739,000. Tudor Investment Corp ET AL boosted its position in shares of Red Cat by 214.0% during the 3rd 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 acquiring an additional 51,339 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock worth $47,580,000 after acquiring an additional 493,660 shares in the last quarter. Finally, EVR Research LP acquired a new position in shares of Red Cat during the 4th quarter worth about $1,705,000. 37.97% of the stock is owned by institutional investors and hedge funds.

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.