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

Red Cat Holdings, Inc. (NASDAQ:RCAT) has been assigned an average rating of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.50.

A number of analysts have issued reports on the company. Northland Securities set a $16.00 price objective on Red Cat in a research note on Friday, August 15th. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research report on Saturday, September 27th. Needham & Company LLC started coverage on Red Cat in a research report on Friday. They set a “buy” rating and a $17.00 target price on the stock. Finally, Wall Street Zen downgraded Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday.

Red Cat Price Performance

NASDAQ:RCAT opened at $12.89 on Friday. Red Cat has a 1 year low of $2.66 and a 1 year high of $15.27. The stock’s 50 day simple moving average is $9.64 and its two-hundred day simple moving average is $7.85. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -23.87 and a beta of 1.45.

Insider Buying and Selling at Red Cat

In other news, Director Christopher R. Moe sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $10.11, for a total transaction of $303,300.00. Following the transaction, the director owned 73,073 shares of the company’s stock, valued at approximately $738,768.03. The trade was a 29.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 86,833 shares of company stock worth $861,560. Insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On Red Cat

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Red Cat by 407.0% in the 4th 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 during the last quarter. California State Teachers Retirement System bought a new position in Red Cat in the 2nd quarter valued at $34,000. Caitong International Asset Management Co. Ltd grew its position in Red Cat by 28,681.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company’s stock valued at $44,000 after acquiring an additional 6,023 shares during the last quarter. BNP Paribas Financial Markets grew its position in Red Cat by 1,537.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,220 shares of the company’s stock valued at $53,000 after acquiring an additional 6,779 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Red Cat in the 2nd quarter valued at $56,000. Institutional investors own 37.97% of the company’s stock.

About Red Cat

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.